TVA Group Inc.

TVA Group Inc.

June 30, 2005 12:39 ET

TVA Group Inc. Announces Preliminary Results of Substantial Issuer Bid

MONTREAL, QUEBEC--(CCNMatthews - June 30, 2005) - TVA Group Inc. (TSX:TVA.NV.B) today announced that, based on initial reports as to the response to the Company's substantial issuer bid, it will purchase for cancellation a total of 3,449,199 participating Class B non-voting shares pursuant to its offer to purchase dated May 19, 2005, at a purchase price of $22.00 per participating Class B non-voting share. The offer for the participating Class B non-voting shares expired at 5:00 p.m. (Montreal time) on June 29, 2005.

The Company and National Bank Trust Inc., the depositary for the substantial issuer bid, expect that the exact number of participating Class B non-voting shares to be taken up and paid for under the offer will be determined on or before July 5, 2005. Payment for participating Class B non-voting shares deposited and accepted for purchase will be made by July 8, 2005. Return of participating Class B non-voting shares not purchased because they were invalidly deposited will be made as promptly as possible. The repurchase will be funded primarily from an advance under the Company's five-year revolving credit facility that matures on June 15, 2010, which had been increased to $160 million on June 15, 2005.

The participating Class B non-voting shares to be repurchased comprise approximately 13.16% of the outstanding participating Class B non-voting shares of the Company before giving effect to the repurchase. After giving effect to the repurchase, there will remain outstanding 22,754,448 participating Class B non-voting shares.

TVA Group

TVA Group is an integrated communications company involved in television, production and distribution of audiovisual products, and in magazine publishing. TVA Group is North America's largest private producer and distributor of French-language entertainment, information and public affairs programming, and its largest publisher of French-language magazines. TVA Group's Class B shares are listed on the Toronto Stock Exchange under the ticker symbol TVA.NV.B.

Contact Information

  • TVA Group Inc.
    Paul Buron
    Senior Vice President and Chief Financial Officer
    (514) 598-2808