TC Media sells 12 of its newspapers to Groupe Lexis Média inc.
Montréal, December 12, 2017 – Transcontinental Inc.'s (TSX: TCL.A TCL.B) Media Sector, TC Media, announces today the sale of 12 of its publications, as well as their related web properties, to Groupe Lexis Média inc., a company owned by Mr. Elie Akoury and Mr. Frédéric Couture, who will act as President. In total, 75 employees of these various publications and 16 employees from TC Media's Production team are transferred to Groupe Lexis Média inc. TC Transcontinental also concluded a multi-year agreement for the printing and distribution of all of these titles as well as for the printing of the magazines already owned by Lexis Média inc. With the completion of this transaction, 60% of the publications included in the sale process of TC Media's local and regional newspapers in Québec and Ontario, launched in April 2017, are now in the hands of local owners.
The newspapers sold to Groupe Lexis Média inc. are: Le Citoyen Rouyn-Noranda, Le Citoyen de la Vallée-de-l'Or, L'Écho Abitibien and La Frontière, distributed in Abitibi-Témiscamingue; L'Action D'Autray, L'Action – Wednesday Edition, L'Action – Weekend Edition, L'Express Montcalm and Hebdo Rive-Nord, in Lanaudière; Le Bulletin, La Petite-Nation and La Revue, in Outaouais.
"It is with enthusiasm that we hand over our 12 publications in Abitibi-Témiscamingue, Lanaudière and Outaouais to Groupe Lexis Média," said Mr. François Olivier, President and Chief Executive Officer of TC Transcontinental. "These newspapers are well rooted in their communities thanks to the talent and dedication of their employees over the years. On behalf of TC Transcontinental, I would like to sincerely thank them for their work and wish them the very best for the future. I am confident they will continue to help these local publications thrive with the Groupe Lexis Média team and its President Frédéric Couture."
Mr. Frédéric Couture, President of Groupe Lexis Média inc., added: "It is an honour for me to acquire this portfolio of quality publications from TC Media and, together with our people, I look forward to great successes serving readers and advertisers. Since its beginnings, Lexis Média has carved out a prominent position for itself in the media industry by bringing on a passionate editorial team and collaborators, and highly professional sales representatives. We intend to carry on this tradition as we confidently embark on this new phase of our development, marked in particular by the upcoming relocation of our offices to a new commercial condo complex in Saint-Hubert. The local newspaper teams who are joining us today are, however, remaining in their respective offices in Abitibi-Témiscamingue, Outaouais and Lanaudière."
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
– 30 –