Sun Media Corporation
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Sun Media Corporation

April 07, 2008 14:19 ET

Sun Media and Today Daily News Create Partnership

TORONTO, ONTARIO--(Marketwire - April 7, 2008) - Sun Media Corporation and the Chinese-language daily newspaper, Today Daily News, have signed an agreement whereby Sun Media Corporation can purchase 50% interest in the Today Daily News subject to certain terms and conditions of closing.

Kin-Man Lee, Executive Vice-president of Sun Media and Publisher of the Toronto Sun, said: "This venture creates a strategic partnership with a well respected newspaper in the Greater Toronto Area that will allow for synergies in distribution services, editorial content, advertising opportunities and promotion and marketing."

Herbert Moon, President of Today Daily News said: "The partnership will enhance the growth potential of the Today Daily News and offer better services to the Chinese community in the Greater Toronto Area." Today Daily News was founded in November of 2005.

Mr. Lee said: "The profile and growth of the Chinese community in the Greater Toronto Area is impressive. The partnership with Today Daily News helps us become a larger part of that community."

About 500,000 Chinese-speaking people live in the Greater Toronto Area.

Sun Media Corporation, a wholly owned subsidiary of Quebecor Media Inc., is Canada's largest newspaper publisher whose stated business purpose is to help connect and build better communities. 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 daily 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.

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