Quebecor Inc.

Quebecor Inc.

March 25, 2015 09:40 ET

Competition Bureau Approves Sale of Sun Media Corporation's English-Language Operations to Postmedia

MONTRÉAL, QUÉBEC--(Marketwired - March 25, 2015) - Quebecor (TSX:QBR.A)(TSX:QBR.B) today welcomed the Competition Bureau's decision to approve the transaction announced on October 6, 2014, whereby Sun Media Corporation's English-language operations are being sold to Postmedia Network for a consideration of C$316 million, payable in cash upon closing. The payment will be subject to the customary adjustments and a $10 million adjustment related primarily to real estate properties sold by Sun Media prior to closing, which will be credited to Postmedia at closing.

The transaction includes 174 newspapers and publications, the Canoe portal in English Canada, part of the national sales team based in Toronto, and the Islington, Ontario printing plant.

The transaction will close within the coming weeks. In the meantime, Sun Media Corporation will continue operating the businesses in question.

Quebecor appreciates the Competition Bureau's diligence throughout the review of this transaction.

About Quebecor

Quebecor, a Canadian leader in telecommunications, news media, entertainment and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.

Quebecor (TSX:QBR.A)(TSX:QBR.B) is headquartered in Québec. It holds a 75.36% interest in Quebecor Media, which employs nearly 14,000 people in Canada.

A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports people working with more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.

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