TC Media sells its weekly newspaper Journal de Chambly
Montreal, May 17, 2017 – Transcontinental Inc.'s (TSX: TCL.A TCL.B) Media Sector, TC Media, announced today the sale of its weekly newspaper Journal de Chambly, as well as its related web property, to a Canadian corporation controlled by Philippe Clair, also the owner and publisher of the Les Versants du Mont-Bruno Inc. group. This group consists of Les Versants, Le Journal de Saint-Bruno and Le Journal de Saint-Basile newspapers as well as Poste 21, a graphic communication agency.
Seven TC Media employees are transferred to the acquirer. The Corporation would like to thank the employees for their work and wishes them the best for the future.
This transaction is part of the process for the sale of TC Media's local and regional newspapers in Quebec and Ontario, which was made public in a press release issued by Transcontinental Inc. on April 18. The Corporation confirms that this process has already generated significant interest in the market and that many discussions are underway with several potential acquirers per region for the various publication portfolios of TC Media. The Corporation remains firmly committed to selling to acquirers who have the ability to ensure the continued sustainability of its local newspapers.
About TC Transcontinental
Canada's largest printer with operations in print, flexible packaging, publishing and digital media, TC Transcontinental's mission is to create products and services that allow businesses to attract, reach and retain their target customers.
Respect, teamwork, performance and innovation are strong values held by the Corporation and its employees. The Corporation's commitment to its stakeholders is to pursue its business and philanthropic activities in a responsible manner.
Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, has close to 8,000 employees in Canada and the United States, and revenues of C$2.0 billion in 2016. Website www.tc.tc
– 30 –
Senior Advisor, Communications
Advisor, Investor Relations