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Quebecor’s TVA Group to buy Vision Globale studio and production assets

Quebecor headquarters is seen Monday, October 6, 2014 in Montreal.
Quebecor headquarters is seen Monday, October 6, 2014 in Montreal. Ryan Remiorz/The Canadian Press

MONTREAL — Quebecor’s TVA Group has an agreement to buy the assets of Quebec-based sound-stage company Vision Globale for $118 million.

Pierre Dion, president and CEO of Quebecor Inc. (TSX:QBR.B) and Quebecor Media, said the asset purchase is part of a strategy of diversifying TVA’s sources of revenue – predominantly from French-language, conventional television in Quebec.

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Vision Globale has done film and TV work at its facilities for local and foreign producers. Its provides soundstage and equipment leasing as well as post-production services.

Among the assets that TVA will acquire are Mel’s Cite du cinema in Montreal and Studios Melrose in St-Hubert, Que.

It has also developed proprietary online transaction and distribution technology for video on demand and digital cinema and has rights to technology for converting two-dimentional images to 3D.

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“With the acquisition of the assets of Vision Globale, we will also be bringing on board a talented and competent team of seasoned managers and employees,” said Julie Tremblay, president and CEO of TVA Group.

“Together, we will implement a growth plan that will bear fruit in the near future.”

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