Sun Media sells 74 Quebec weeklies for $75 million to TC Transcontinental

One day after announcing 200 layoffs, Sun Media has sold 74 Quebec dailies to Transcontinental for $75 million. The deal, which is subject to approval from the Competition Bureau, was announced Thursday and will add approximately $20 million to TC Transcontinental's operating income before amortization. While the transaction is under review, Sun Media will continue publishing the weeklies…

One day after announcing 200 layoffs, Sun Media has sold 74 Quebec dailies to Transcontinental for $75 million.

The deal, which is subject to approval from the Competition Bureau, was announced Thursday and will add approximately $20 million to TC Transcontinental’s operating income before amortization. While the transaction is under review, Sun Media will continue publishing the weeklies and keep on the 600 staff working on the papers.

Both companies had dozens of community newspapers across Quebec, media blogger Steve Faguy said. “There was sort of a gentlemen’s agreement, or maybe just a fear of competition, so they didn’t encroach on each other’s territory. Until Quebecor decided it would expand into fast-growing areas and take on Transcon directly (in 2010).”

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The newspaper war effectively ended with the announcement of today’s deal, Faguy added.

“The digital revolution has brought profound changes in local print media markets,” said Robert Dépatie, president and CEO of Quebecor Media, the parent corporation of Sun Media, in a statement. “We believe in the future of print media but we cannot ignore the new market realities.”

However, Le Journal de Montréal, Le Journal de Québec and 24 Heures, as well as QMI Agency, will remain with Quebecor.

Meanwhile, TC Transcontinental has also signed an agreement with Quebecor Media to print some of its magazines.

“Acquiring Sun Media’s 74 community papers in Quebec is in line with our strategy to strengthen the core assets of TC Media,” said François Olivier, president and CEO of TC Transcontinental. “This transaction will also give us the opportunity to continue building multiplatform offerings across all of Quebec by drawing on the talents of our people and on all those who work on the Sun Media community papers in Quebec.”

Here is the complete list of weeklies that will be sold:

Le Citoyen de la Vallée de l’Or	Val-d’Or, Amos
Le Citoyen de l’Harricana	Val-d’Or, Amos
Le Citoyen Rouyn Noranda	Rouyn-Noranda
Le Citoyen Abitibi Ouest	Rouyn-Noranda
Éclaireur Progrès	Saint-Georges
Hebdo Régional	Saint-Georges
Beauce Media	Sainte Marie
Les Actualités d’Asbestos	Asbestos
Le Plein Jour de Baie Comeau	Baie-Comeau
Le Port-Cartois	Port Cartier
Le Nord Est	Sept-Îles
Le Saint-Laurent Portage	Rivière-du-Loup
Le Mirabel	Saint-Jérôme
L’Information du Nord – Mont Tremblant	Tremblant
L’Information du Nord – Ste-Agathe	Sainte-Agathe
L’Information du Nord – Vallée de la rouge	L’Annonciation
L’Écho de la lièvre	Mont-Laurier
Le Peuple Lotbinière	Laurier Station
Le Peuple Lévis	Lévis / Montmagny
Courrier du Sud	Longueuil
Le Journal de Sherbrooke	Sherbrooke
L’Oeil Régional	Beloeil
La Seigneurie	Boucherville
Le Journal de Chambly	Chambly
Le Soleil de Salaberry-de-Valleyfield	Valleyfield
Le Reflet	Delson
Le Journal de St-Bruno	St-Bruno
Le Soleil du Samedi	Châteauguay
Le Soleil du Mercredi	Châteauguay
L’Information Ste-Julie	Ste-Julie
Le Journal St-François	Valleyfield
Les 2 Rives	Sorel
L’Écho Abitibien	Val-d’Or
La Frontière	Rouyn-Noranda
Businest	Rimouski
[node:ad] Le Transgaspésien	Gaspé
L’Avant-Poste	Amqui
L’Écho de la Baie	New-Richmond
L’Aviron	Campbelton, Nouveau-Brunswick
Le Havre	Chandler
Le Pharillon	Gaspé
L’Information Mont-Joli	Mont-Joli
Le Riverain	Ste-Anne-des-Monts
Le Sentinelle de Chibougamau	Chibougamau
Le Jamésien	Chibougamau
Brossard-éclair	Brossard
Le Journal de St-Hubert	St-Hubert
The Gleaner – La Source	Huntingdon
Sortir	Boucherville
Agri-Vallée	Valleyfield
L’Information d’Affaires Rive-Sud	Beloeil
La Voix	Sorel
La Voix de la Matanie	Matane
La Voix Gaspésienne	Matane
Le Courier du Fleuve	Rimouski
Le Journal des Pays d’en-Haut La Vallée	Saint Sauveur / Sainte-Adèle
Le Progrès Écho	Rimouski
Le Réveil	Saguenay
Le Rimouskois	Rimouski
VISION	Rimouski
L’Écho du Nord	St-Jérôme
L’Écho de St-Eustache	St-Eustache
L’Impact de Drummondville	Drummondville
Pub Extra	Laval-Laurentides
L’Écho de Victoriaville	Victoriaville
L’Écho de la Rive Nord	Ste-Thérèse
L’Écho de Laval	Laval
Le Journal de Magog	Magog
Le Point du Lac St-Jean	Lac St-Jean
Le Journal de Joliette	Joliette
L’Écho de Repentigny	Repentigny
L’Écho de Trois-Rivières	Trois-Rivières
L’Écho de Shawinigan	Shawinigan
L’Écho de St-Jean-sur-Richelieu	St-Jean-sur-Richelieu

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Tamara Baluja

Tamara Baluja is an award-winning journalist with CBC Vancouver and the 2018 Michener-Deacon fellow for journalism education. She was the associate editor for J-Source from 2013-2014.