Quebecor Media Inc.

Quebecor Media Inc.

June 22, 2009 11:53 ET

Sale of the Montreal Canadiens: Quebecor Wishes Molson Brothers Well

MONTREAL, QUEBEC--(Marketwire - June 22, 2009) - Leaving the spotlight on the new owners over the weekend, Quebecor waited until this morning to comment on the sale of the Montreal Canadiens and related properties and to wish the three Molson brothers every success.

"I would like to join my voice to many others and pay tribute to the Molson family's deep roots in the life of this city and their decades-long commitment to hockey," said Pierre Karl Peladeau, President and Chief Executive Officer of Quebecor.

The Company is disappointed that it was unable to purchase the team with its co-shareholder, the Caisse de depot et placement du Quebec, and its partner, Les Productions Feeling (Rene Angelil's holding company). Quebecor Media had high hopes for the project and far-reaching plans to make the Canadiens still more accessible to the public and by giving fans more opportunities to interact with their team.

The team could have been brought closer to its fans by, among other things, making Saturday night hockey a big event again on a major television network, such as TVA, which reaches all Canadians. Quebecor Media also intended to propel the Canadiens into the digital age by disseminating its activities through multiple technological channels. In the showbiz segment of the operation, Quebecor would have offered Quebecers the opportunity to watch headline events in the comfort of their living rooms on a regular basis, as it did last summer when it presented concerts by legendary artists Paul McCartney and Celine Dion on multiple platforms.

"Naturally, I would have been honoured if my team and I could have been players in the future of this iconic, world-renowned sports team, which has been part and parcel of our history for a hundred years, and we believe we made a reasonable and attractive offer to the Gillet family," said Pierre Karl Peladeau. "However, we will bring our commitment to Quebec and Quebecers to other ambitious projects, which promise to pay large dividends for the community. For example, we are pushing ahead with the development of the most reliable and advantageous latest-generation wireless network, a project in which we will have invested between $800 million and $1 billion by the time it is completed and which will create 1,000 jobs in Quebec. Other major wealth-creating challenges await us and we intend to demonstrate the determination, innovative spirit, boldness and commitment for which we are known in order to deliver the best products and services in our industry by drawing on our history of success."

Quebecor Media

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; 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; Le SuperClub Videotron ltee, a DVD and console game rental and retail chain; and Quebecor MediaPages, publisher of print and online directories.

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