Quebecor Media Inc.

Quebecor Media Inc.

March 13, 2008 11:56 ET

Quebecor Media Inc. Seeks Participation in Wireless Spectrum Auction

MONTREAL, QUEBEC--(Marketwire - March 13, 2008) - Quebecor Media Inc. has filed an application as a new entrant to bid at the spectrum auction for Advanced Wireless Services. Quebecor Media submitted a deposit of $317 million, in the form of letters of credit, to Industry Canada.

Last November, Industry Minister Jim Prentice announced that a significant portion (40 megahertz) of spectrum to be auctioned would be reserved for new entrants in the wireless market. The purpose of the decision was to increase competition in the Canadian market, which has lagged behind other countries in terms of technology, penetration levels and consumer pricing.

If the Quebecor Media application is accepted - a decision will be known on March 31 - the company will bid for spectrum across Canada.

"We have always stated clearly that our Videotron subsidiary planned to build its own wireless network to serve the Quebec market. However, exceptionally favourable conditions for new entrants, which may never occur again, persuaded us it is in the interest of our shareholders that we try to extend our deployment across Canada. We will see at the conclusion of the auction if such a deployment is possible," said the president and CEO of Quebecor Inc., Pierre Karl Peladeau.

The auction opens on May 27, 2008.

About Quebecor Media Inc.

Quebecor Media Inc. is a subsidiary of Quebecor Inc. (TSX:QBR.A)(TSX:QBR.B), a communications company with operations in North America, Europe and Asia. Quebecor Media 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, the largest publisher of newspapers in Canada; Quebecor MediaPages, a publisher of print and online directories; TVA Group Inc., operator of the largest French-language over-the-air television network in Quebec, a number of specialty channels, and the English-language over-the-air 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; magazine publisher TVA Publishing Inc.; book publisher and distributor Quebecor Media Book Group Inc.; Archambault Group Inc. and TVA Films, companies engaged in the production, distribution and retailing of cultural products, and Le SuperClub Videotron ltee, a DVD and console game rental and retail chain.

Contact Information

  • Quebecor Inc.
    Luc Lavoie
    Executive Vice President, Corporate Affairs
    Office: 514-380-1974
    Portable: 514-947-6672