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

Quebecor Media Inc.

July 19, 2005 09:01 ET

Quebecor Media Inc. Announces the Expiration of its Tender Offers to Purchase Notes

MONTREAL, QUEBEC--(CCNMatthews - July 19, 2005) - Quebecor Media Inc., a subsidiary of Quebecor Inc. (TSX:QBR.MV.A) (TSX:QBR.SV.B), today announced that its tender offers to purchase up to $125,000,000 in the aggregate of its outstanding 11 1/8 % Senior Notes due July 15, 2011 (the "Senior Notes") and its outstanding 13 3/4 % Senior Discount Notes due July 15, 2011 (the "Discount Notes") expired as of 11:59 p.m., New York City time, on July 18, 2005. In the offers, $128,190,000 in aggregate principal amount of its Senior Notes and $12,125,000 in aggregate principal amount at maturity of its Discount Notes were tendered and not withdrawn prior to the expiration of the offers.

Quebecor Media has accepted for purchase all Senior Notes and Discount Notes tendered and not withdrawn. In accordance with the terms of the offers, the total consideration to be paid for each Senior Note tendered prior to the early tender deadline of 5:00 p.m., New York City time, on July 1, 2005 will be a fixed price of $1,112.50 per $1,000 principal amount, which is comprised of the tender offer consideration of $1082.50 per $1,000 principal amount plus the early tender premium of $30.00 per $1,000 principal amount. Holders of the Senior Notes tendered after the early tender deadline will receive a fixed price of $1082.50 per $1,000 principal, being the tender offer consideration, in respect of such Senior Notes. The total consideration to be paid for each Discount Note (all of which were tendered before the early tender deadline) will be a fixed price of $1,007.50 per $1,000 principal amount at maturity, which is comprised of the tender offer consideration of $977.50 per $1,000 principal amount at maturity plus the early tender premium of $30.00 per $1,000 principal amount at maturity. In addition, holders of the Senior Notes (but not holders of the Discount Notes) will receive accrued and unpaid interest to, but not including, Tuesday, July 19, 2005.

The Dealer Manager for the tender offers was Citigroup Global Markets Inc.

Quebecor Media Inc., a company incorporated in Canada under the Companies Act (Quebec), is one of Canada's largest media companies. Its principle 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.

This communication is for informational purposes only. It is not intended as, and does not constitute, an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Any comments or statements made herein do not necessarily reflect those of Citigroup Global Markets Inc. or its subsidiaries and affiliates.

Contact Information

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