TVA Group Inc.

TVA Group Inc.

May 14, 2008 14:21 ET

TVa Group Inc. Increases Number of Shares That it Is Offering to Repurchase Under its Substantial Issuer Bid

MONTREAL, CANADA--(Marketwire - May 14, 2008) - TVA Group Inc. (TSX:TVA.B) today announced that it has increased the number of participating Class B non-voting shares (the Class B Shares) that it is offering to repurchase under its offer to purchase Class B Shares from 2,000,000 to 3,000,000 Class B Shares. TVA Group also announced that the offer, which was previously scheduled to expire at 8:00 p.m. (Montreal time), on May 14, 2008, has been extended to, and will now expire at 8:00 p.m. (Montreal time), on June 2, 2008, unless the offer is extended further, in accordance with the other terms set forth in the original offer dated April 1, 2008.

TVA Group will be mailing a Notice of Variation and Extension to all holders of Class B Shares in connection with the variation and extension of the offer. Except for the increase in the number of Class B Shares to be repurchased and the extension of the expiration date of the offer, the terms previously set forth in the original offer dated April 1, 2008 continue to be applicable in all respects. In addition, TVA Group will be waiving, effective at 8:00 p.m. (Montreal time), on May 14, 2008, all conditions set forth in Section 5 of its original offer to purchase dated April 1, 2008.

As at 12:00 p.m. (Montreal time) today, based on interim reports provided by the depositary for the offer, a total of 7,423,234 Class B Shares had been deposited pursuant to the offer up to such time. Shareholders should note that TVA Group will not be taking up the Class B Shares so deposited prior to the extended expiration time of the offer at 8:00 p.m. (Montreal time), on June 2, 2008 and that, prior to such time, any shares so deposited may be withdrawn. TVA Group will only be in a position to announce the final proration factor, if any, and the exact number of Class B Shares to be taken up under the offer on or immediately after the extended expiration date.

TVA Group Inc., a subsidiary of Quebecor Media Inc., is an integrated communications company involved in television, the production and distribution of audiovisual products, and in magazine publishing. TVA Group is one of the largest private sector producers and the largest private sector broadcaster of French-language entertainment, information and public affairs programming, and magazine publishing in North America. TVA also operates SUN TV, a general-interest station in Toronto. The Company's Class B Shares are listed on the Toronto Stock Exchange under the ticker symbol "TVA.B".

Contact Information

  • TVA Group Inc.
    Denis Rozon, CA
    Vice-President and Chief Financial Officer