Quebecor Media Inc.

Quebecor Media Inc.

January 09, 2008 13:21 ET

Quebecor Media Announces Mailing of Bid Circular in Connection With its Offer to Acquire Shares of Nurun Inc.

MONTREAL, QUEBEC--(Marketwire - Jan. 9, 2008) - Quebecor Media Inc. announced today that it has mailed to Nurun's shareholders its takeover bid circular in connection with its previously announced all-cash offer to acquire all of the outstanding common shares of Nurun Inc. (TSX:NUR) not already owned by it and its affiliates at Cdn$4.75 per share.

The offer price represents a premium of approximately 33% over the volume weighted average trading price of Nurun's common shares during the month of November 2007 on the TSX preceding and including November 30, 2007 and a premium of approximately 12.8% over the closing price of Nurun's common shares on December 4, 2007, the last trading day prior to the public announcement of Quebecor Media's renewed intention to make the offer.

As previously announced, Quebecor Media has entered into lock-up agreements with certain securityholders of Nurun holding in the aggregate a majority of Nurun's common shares not already owned by QMI and its affiliates under which such holders have irrevocably and unconditionally agreed to tender their shares to an offer by Quebecor Media to acquire all issued and outstanding common shares of Nurun at a price of Cdn$4.75 per share in cash. This will allow Quebecor Media to proceed with the privatization of Nurun through a compulsory acquisition ("squeeze-out") transaction in the event not less than 90% of the shares subject to the offer are tendered, or a subsequent acquisition transaction in the event less than 90% of the shares subject to the offer are tendered, the whole as described in the offer documentation.

The offer is open for acceptance until 8:00 p.m. (Montreal time) on February 19, 2008 and contains certain conditions that are customary to transactions of this nature, including the valid tender, and non-withdrawal, of at least a majority of Nurun's common shares not already owned by it and its affiliates.

Shareholders may obtain a copy of the take-over bid circular and other materials (when available) on the SEDAR web site at

The Company

Quebecor Media Inc., a subsidiary of Quebecor Inc., owns operating companies in numerous media-related businesses: Videotron Ltd., the largest cable operator in Quebec and a major Internet Service Provider and provider of telephone and business telecommunications services; Sun Media Corporation, Canada's largest national chain of tabloids and community newspapers; TVA Group Inc., operator of the largest French-language general-interest television network in Quebec, a number of specialty channels, and the English-language general-interest station Sun TV; Canoe Inc., operator of a network of English- and French-language Internet properties in Canada; Nurun Inc., a major interactive technologies and communications agency with offices in Canada, the United States, Europe and Asia; companies engaged in book publishing and magazine publishing; and companies engaged in the production, distribution and retailing of cultural products, namely Archambault Group Inc., the largest chain of music stores in eastern Canada, TVA Films, and Le SuperClub Videotron ltee, a chain of video and video game rental and retail stores.

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