TC Transcontinental is seeking the support of various levels of government to ensure that local high quality information continues to be available
Montreal, June 13, 2016 – TC Transcontinental has reviewed the results of the study conducted by MCE Conseils on the state of print media and information in Quebec as well as the recommendations proposed to ensure its sustainability. This report, made public on June 8 by the Fédération nationale des communications and the Confédération des syndicats nationaux (FNC-CSN), made a vibrant plea for government support for the survival of print media in Quebec. TC Transcontinental salutes this initiative and joins its voice to that of the FNC-CSN to advocate in favour of the implementation of a hybrid funding ecosystem, including government participation.
"These recommendations strengthen the efforts we have made in this regard over the past few years to the federal and provincial governments, and more recently the action plan presented jointly by TC Transcontinental and Hebdos Québec to the Standing Committee on Canadian Heritage, declared François Olivier, President and Chief Executive Officer of TC Transcontinental. The economic reality and the structural changes we are experiencing in the media industry attest to the need for government intervention to preserve local and regional information, ensuring a dynamic society and democratic values. We want to work in collaboration with the different stakeholders to accelerate the implementation of support measures. "
In Quebec, as in the rest of the world, media are faced with complex issues and major challenges. They must lead an unprecedented digital transformation and invest in the development of new platforms, in a context of the erosion of advertising revenues and increased competition from the major global digital players. Although some countries support print media in various forms, media companies here are not supported by such government measures. They must deploy rationalization efforts to ensure the financial viability of their operating activities.
"We firmly believe in the importance of a rich and vibrant print media, created by talented people, that shape our identity and fuels our societal reflections," Mr. Olivier added. "It is always a great pride for us to work in the local media niche, which is the core of our local strategy. However, given the decline of our advertising revenues and the investments necessary to renew our business model, we are confronted with major challenges that compel us to make decisions that are often difficult. Our objective is to ensure the greatest possible sustainability of local print media. To achieve this, there must be a political and regulatory will to encourage the production of professional information, as in other cultural sectors in Quebec. "
TC Media, a division of TC Transcontinental, is the leading publisher of local newspapers in Quebec and in the Atlantic provinces, with a portfolio of over 150 titles, including about a hundred in Quebec.
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 all 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 2015. Website: www.tc.tc
– 30 –
For information:
Media
Nathalie St-Jean
Senior Advisor, Communications
TC Transcontinental
Telephone: 514-954-3581
nathalie.st-jean@tc.tc
Financial Community
Jennifer F. McCaughey
Vice President, Communications
TC Transcontinental
Telephone: 514-954-2821
jennifer.mccaughey@tc.tc
