MONTREAL – Transcontinental Inc. (TSX:TCL.A) says its media division is buying 74 community newspapers and associated web properties in Quebec from Sun Media for $75 million.
The agreement has been approved by the boards of both companies but Sun, a subsidiary of Quebecor Inc. (TSX:QBR.B), will continue to operate the papers until the transaction closes.
The deal doesn’t include Le Journal de Montreal, Le Journal de Quebec, 24 heures in Montreal or the QMI news service, but does include the rest of Sun Media’s newspapers in Quebec.
The deal requires regulatory approvals, including from the Competition Bureau.
The deal was announced a day after Sun Media announced the layoff of another 200 employees across Canada, including 50 journalists outside Quebec.
READ MORE: Sun Media cutting 200 jobs across the company
Sun Media’s best-known properties outside Quebec are the Sun newspapers in Toronto, Ottawa, Winnipeg, Calgary and Edmonton.
It also publishes 24 Hours free dailies in those cities as well as paid-circulation papers in numerous Ontario cities.
Transcontinental (TSX:TCL.A) says the deal for the Quebec community papers will add about $20 million in operating income before amortization.
Quebecor Media also agreed to print some of its magazines and direct marketing materials with Transcontinental Printing starting in February.
Transcontinental also announced Thursday that its net losses in the fourth quarter nearly doubled to $92.2 million as revenues fell 3.2 per cent to $566.3 million.
Adjusting for one-time items, it earned $58.2 million, down six per cent from $61.9 million a year earlier. Earnings for the period ended Oct. 31 decreased by two cents per share to 75 cents.
Below is a list of the newspapers Transcontinental has acquired:
- 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
- Eclaireur 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-Iles
- 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’Echo 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’Echo Abitibien Val-d’Or
- La Frontière Rouyn-Noranda
- Businest Rimouski
- Le Transgaspésien Gaspé
- L’Avant-Poste Amqui
- L’Echo 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 Echo Rimouski
- Le Réveil Saguenay
- Le Rimouskois Rimouski
- VISION Rimouski
- L’Echo du Nord St-Jérôme
- L’Echo de St-Eustache St-Eustache
- L’Impact de Drummondville Drummondville
- Pub Extra Laval-Laurentides
- L’Echo de Victoriaville Victoriaville
- L’Echo de la Rive Nord Ste-Thérèse
- L’Echo de Laval Laval
- Le Journal de Magog Magog
- Le Point du Lac St-Jean Lac St-Jean
- Le Journal de Joliette Joliette
- L’Echo de Repentigny Repentigny
- L’Echo de Trois-Rivières Trois-Rivières
- L’Echo de Shawinigan Shawinigan
- L’Echo de St-Jean-sur-Richelieu St-Jean-sur-Richelieu
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