Quebecor Media Inc.
TSX : QBR.MV.A
TSX : QBR.SV.B

Quebecor Media Inc.

January 11, 2006 21:12 ET

Quebecor Media Announces Expected Price Determination Date in Tender Offers for its Outstanding Notes

MONTREAL, QUEBEC--(CCNMatthews - Jan. 11, 2006) - Quebecor Media Inc. announced on December 16, 2005 that it had commenced tender offers and consent solicitations in respect of its outstanding 11 1/8 % Senior Notes due July 15, 2011 (the "Senior Notes") and 13 3/4 % Senior Discount Notes due July 15, 2011 (the "Discount Notes," and together with the Senior Notes, the "Notes"). The tender offers and consent solicitations are being made upon the terms, and subject to the conditions, set forth in the Offer to Purchase and Consent Solicitation Statement, dated December 16, 2005 (the "Offer to Purchase"), and the related Letter of Transmittal, which more fully set forth the terms of the tender offers and consent solicitations.

Quebecor Media announced today that it currently expects the "Price Determination Date" with respect to the Notes to occur at 2:00 p.m., New York City time, on Thursday, January 12, 2006.

The Offers are being conducted as part of Quebecor Media's refinancing plan. The completion of the tender offers and consent solicitations is subject to the conditions set forth in the Offer to Purchase, including Quebecor Media obtaining the financing necessary to fund the tender offers. In respect of each of the offers, Quebecor Media has received consents in excess of the majority consent requirement. Subject to applicable law, Quebecor Media reserves the right to waive any and all conditions to either or both of the tender offers, or to extend, terminate or otherwise amend the tender offers.

In the event that the expiration date with respect to the tender offers for the Notes is extended from the scheduled expiration date of January 18, 2006, a new Price Determination Date will be established and announced by press release. The settlement date for the Notes tendered on or prior to 5:00 p.m. on December 30, 2005 (the "Consent Deadline") and accepted for payment by Quebecor Media is expected to be Tuesday, January 17, 2006 (the "Early Settlement Date").

Quebecor Media has engaged Citigroup Corporate and Investment Banking as dealer manager for the tender offers and solicitation agent for the consent solicitations. Questions regarding the tender offers and consent solicitations may be directed to Citigroup at (800) 558-3745 or (212) 723-6106. Requests for documentation should be directed to Global Bondholder Services Corporation, the Information Agent and the Depositary for the tender offers and consent solicitations, at (866) 470-4300 (toll free) or at (212) 430-3774 (collect).

This announcement is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of a consent with respect to any of the Notes. The tender offers are being made solely by means of the Offer to Purchase.

Quebecor Media Inc., a company incorporated in Canada under the Companies Act (Quebec), is one of Canada's largest media companies. Its principal lines of business are cable, newspaper publishing, television broadcasting, business telecommunications, book, magazine and video retailing and publishing, distribution and music recording, and new media services.

Forward-Looking Statements

Certain statements contained herein, including statements that are not historical facts, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Quebecor Media's current views or assumptions with respect to future events, plans, objectives and financial performance. These matters involve known and unknown risks and uncertainties that could cause Quebecor Media's actual results, outcomes or performance to differ materially from those expressed or implied in the forward-looking statements. Some important factors that could affect Quebecor Media's future results, financial position and cash flows and could cause actual results to differ materially from those expressed in these forward-looking statements include, but are not limited to (i) general economic, financial or market conditions; (ii) the intensity of competitive activity in the industries in which Quebecor Media operates; (iii) unanticipated higher capital spending required to address continued development of competitive alternative technologies; (iv) variations in the cost, quality and variety of our television programming, (v) changes in Quebecor Media's ability to obtain services and equipment critical to its operations; (vi) labor disputes or strikes; and (vii) changes in laws and regulations, or in their interpretations, which could result in, among other things, the loss (or reduction in value) of Quebecor Media's licenses or markets or in an increase in competition, compliance costs or capital expenditures.

It is not possible to identify or predict all such factors. Consequently, while this list of factors is considered representative, no such list should be considered an exhaustive statement of all potential material risks and uncertainties. Further details and descriptions of these and other factors that could cause actual results to differ materially from results expressed in these forward-looking statements are disclosed in our Annual Report on Form 20-F for the fiscal year ended December 31, 2004, including under its sections "Forward-Looking Statements" and "Risk Factors," as well as in our filings from time to time with the SEC. Holders of Notes are encouraged to review these filings. Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions and expectations proves to be inaccurate or is unrealized.

Contact Information

  • Quebecor Media Inc.
    Mark D'Souza
    Vice President, Finance
    (514) 380-1912
    or
    Quebecor Inc.
    Luc Lavoie
    Executive Vice President, Corporate Affairs
    (514) 380-1974 or (514) 886-7665 (cell)
    lavoie.luc@quebecor.com