TC Media sells 21 of its publications and its InMemoriam.ca site to Renel Bouchard and Marc-Noël Ouellette of Icimédias Inc.
Montréal, November 8, 2017 –Transcontinental Inc.'s (TSX: TCL.A TCL.B) Media Sector, TC Media, announces today the sale of 21 of its publications and their related web properties, as well as its InMemoriam.ca site to Icimédias Inc., a company led by its President Renel Bouchard, with Marc-Noël Ouellette as Managing Director. In total, 140 employees of these various publications and 28 employees from TC Media's Production team are transferred to Icimédias. TC Transcontinental also concluded a multi-year agreement for the printing and distribution of all of these publications. This represents the largest transaction to date in the process for the sale of TC Media's local and regional newspapers in Québec and Ontario. With the completion of this transaction, close to 50% of the titles included in this process are now in the hands of local owners.
The publications sold to Icimédias are: L'Avenir de l'Érable, La Nouvelle union – Wednesday edition and La Nouvelle union – Sunday edition, in Centre-du-Québec; Beauce Média, L'Éclaireur Progrès, Hebdo Régional, La Voix du Sud and Courrier Frontenac, in Chaudière-Appalaches; Le Progrès de Coaticook and Le Reflet du Lac, in Estrie; Le Courrier Sud, L'Écho La Tuque/Haut-St-Maurice, L'Écho de Maskinongé, L'Hebdo du St-Maurice and L'Hebdo Journal, in Mauricie; L'Avenir et des Rivières, Granby Express, Journal Le Guide, Le Canada Français, Le Richelieu and Coup d'œil, in Montérégie.
"The sale of 21 of our publications in a single transaction today marks a significant step in the process for the sale of our local newspapers in Québec and Ontario," said François Olivier, President and Chief Executive Officer of TC Transcontinental. "It is with pride that we pass the torch to Renel Bouchard and Marc-Noël Ouellette, long-standing business partners of TC Transcontinental, who are eager to contribute to the sustainability of these publications. We would like to thank all of our employees for their dedication over the years and wish them the best for the future at Icimédias."
"It is a great honour for us to welcome these quality newspapers and the InMemoriam.ca site, as well as employees of reputed talent in the industry," explained Renel Bouchard, President of Icimédias. "Today's transaction will result in the creation of the largest regional independent newspaper group in Québec. We believe in the future of regional weekly media and are confident that weeklies are critical to the vitality and development of our communities, cities and towns, and their region."
Marc-Noël Ouellette, Managing Director of Icimédias, added: "We believe that every weekly is unique and forms part of its community's identity, its DNA. For this reason, we are very proud to acquire these publications. While weeklies are certainly undergoing transformation to adapt to a digital world, their evolution must not deny their identity, much less their desire to reach their audiences across areas, age groups and interests."
Mr. Bouchard concluded by summarizing his experience and that of Marc-Noël Ouellette in the weekly press industry: "We are already active through Newspaper Toolbox, which offers print and digital products to all of Québec's French-language weeklies and to almost 800 other English-language community newspapers in Canada, the United States and New Zealand. I have been a shareholder of Groupe Le Canada Français, while Marc-Noël was part of TC Media's senior management team for over 15 years, namely as Senior Vice President, Local Solutions Group. We are delighted to continue our growth with the acquisition of these publications."
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 more than 7,000 employees in Canada and the United States, and revenues of C$2.0 billion in 2016. Website www.tc.tc
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