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

Quebecor Media Inc.

July 09, 2007 10:44 ET

Quebecor Media Inc. Announces Private Offering of Senior Notes

MONTREAL, QUEBEC--(Marketwire - July 9, 2007) - Quebecor Media Inc. announces today that, subject to market and other conditions, it intends to offer approximately US$750 million of its senior notes. The senior notes are expected to be issued in two tranches maturing in 2015 and 2018, respectively.

Quebecor Media intends to use the net proceeds of this issuance of senior notes to fund its previously announced offer to acquire Osprey Media Income Fund, the proposed acquisition of all of the common shares of Nurun Inc. not currently held by Quebecor Media and a payment to The Carlyle Group in respect of an existing obligation, as well as for general corporate purposes. In the event that Quebecor Media's offer to acquire Osprey Media or the Nurun common shares is withdrawn or terminated, Quebecor Media intends to use the proceeds that would otherwise have been used to fund those transactions for general corporate purposes, which may include acquisitions, capital expenditures and the voluntary repayment of existing indebtedness.

The senior notes have not been and will not be registered under the United States Securities Act or applicable state securities laws, and the senior notes may not be offered or sold in the United States absent registration or an applicable exemption from registration. The senior notes will be offered and sold to qualified institutional buyers pursuant to Rule 144A under the United States Securities Act, as amended, and outside the United States pursuant to Regulation S under the United States Securities Act. The notes have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the notes in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States and shall not constitute an offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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.

Forward-Looking Statements

Statements contained herein relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are made pursuant to the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industries in which we operate as well as beliefs and assumptions made by our management. Such statements include, in particular, statements about our plans, prospects, financial position and business strategies. Words such as "may," "will," "expect," "continue," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "seek" or the negatives of these terms or variations of them or similar terminology are intended to identify such forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements, by their nature, involve risks and uncertainties and are not guarantees of future performance. Such statements are also subject to assumptions concerning, among other things: our anticipated business strategies; anticipated trends in our business; and our ability to continue to control costs. We can give no assurance that these estimates and expectations will prove to have been correct. Actual outcomes and results may, and often do, differ from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. Some important factors that could cause actual results to differ materially from those expressed in these forward-looking statements are discussed in further detail in each of Quebecor Media's, Videotron's and Sun Media's respective Annual Reports on Form 20-F for the fiscal year ended December 31, 2006, including under the sections "Forward-Looking Statements" and "Risk Factors." Quebecor Media, Videotron and Sun Media disclaims any obligation to update these statements unless applicable securities laws require us to do so.

Contact Information

  • Quebecor Media Inc.
    Luc Lavoie
    Executive Vice President, Corporate Affairs
    Office: 514-380-1974
    Mobile: 514-947-6672
    lavoie.luc@quebecor.com