Sun Media Corporation

Sun Media Corporation

July 16, 2013 11:45 ET

Sun Media Continues Restructuring Initiatives

MONTRÉAL, QUÉBEC--(Marketwired - July 16, 2013) - Sun Media Corporation announces the elimination of 360 positions, the closing of 8 publications across the country and 3 of its free urban dailies, the 24 Hours newspapers in Ottawa, Calgary and Edmonton, as well as a series of initiatives to enhance operational efficiencies. The strategic overhaul is expected to yield annual savings of approximately $55 million.

"In recent years, the print media industry has been going through an unprecedented transformation such as it has never seen before," said Julie Tremblay, Chief Operating Officer, Sun Media Corporation. "The management decisions we are making are difficult and highly regrettable, particularly the job cuts. However, the downsizing is necessary to maintain a strong positioning for our news media outlets on all platforms, and more broadly to secure our Corporation's future success in an industry that is being revolutionized by the advent of digital. To the employees who are leaving us, we extend our heartfelt thanks for their contribution and we wish them every success in the future.

"Digital is more than a strong trend," Ms. Tremblay noted. "Today, young people are getting their information almost exclusively from digital sources such as computers, smartphones and tablets. We are working to meet the needs of all our readers and advertisers in this new environment. We are therefore making investments and expanding our high-potential newspapers and publications across all platforms, print and digital."

The closing of the three 24 Hours newspapers is a result of Sun Media's decision to focus on a single urban newspaper in each market, except Montréal and Toronto, where the mass transit systems warrant the continuation of Sun Media Corporation's free dailies as well. With the continued publication of 24 Hours in Vancouver, Sun Media remains present in all of Canada's major urban markets.

In addition to these three 24 Hours, the following 8 titles have already ceased or will cease publication: L'Action Régionale in Montérégie (Québec), The Lindsay Daily Post (Ontario), The Midland Free Press (Ontario), The Meadow Lake Progress (Saskatchewan), The Lac du Bonnet Leader (Manitoba), The Beausejour Review (Manitoba), Le Magazine Saint-Lambert (Québec) et Le Progrès de Bellechasse (Québec).

About Sun Media Corporation

Sun Media Corporation, a subsidiary of Quebecor Media Inc., is Canada's largest newspaper publisher, based on paid and free circulation, publishing over 15.1 million copies each week. With 36 paid-circulation daily newspapers and 3 free dailies in 9 of the 10 largest urban markets in Canada, each with its own dedicated website, and almost 200 community newspapers, shopping guides and other specialty publications, Sun Media Corporation's English and French language newspapers and websites make it a leading provider of local news and information. Sun Media Corporation includes the activities of Osprey Media and, an integrated enterprise offering e-commerce, information and communication services that operates a network of Internet portals that attracts over 10.5 million unique visitors per month in Canada, including 5.7 million in Québec. Sun Media Corporation also provides a range of commercial printing and related services as well as distribution services for newspapers, flyers and magazines.

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