By PrintAction Staff
By PrintAction Staff
Transcontinental Inc.’s Media Sector, TC Media, has announced the sale of three local newspapers, as well as their related web properties, to Groupe Lexis Média inc. In total, 26 employees of the various publications and 1 employee from TC Media’s Production team are transferred to Groupe Lexis Média. TC Transcontinental also concluded a multi-year agreement for the printing and distribution of all of these titles.
The publications sold to Groupe Lexis Média are: L’Avantage votre journal, L’Avantage Gaspésien and L’Avant-Poste.
“Six months ago, this publisher acquired 12 of our local newspapers as part of our sale process launched a year ago. We are thrilled to see that, on the heels of this first experience, Groupe Lexis Média has decided to pursue its growth with the purchase of three more of our titles which enjoy a valued position in their communities,” said François Olivier, President and Chief Executive Officer of TC Transcontinental.
“We are very enthusiastic about these three new acquisitions. Once again, we are acquiring quality publications and highly talented employees from TC Media. With our team already in place, we will, more than ever, serve communities, readers and advertisers with unique products that meet their needs and proudly bear the Groupe Lexis Média signature. Indeed, this new acquisition highlights the successful and promising development of our portfolio of media activities,” Frédéric Couture, President of Groupe Lexis Média inc., said.
With the completion of the transaction, only the Seaway News newspaper of Cornwall is still part of the sale process of TC Media’s 93 local and regional publications in Québec and Ontario.
On April 27, TC Media completed the sale of 30 publications, which included 21 weeklies in the Montréal area, the Métro Montréal weekday newspaper, as well as eight publications in the Québec City area to Transmet Logistics & Metropolitan Media, led by President and Montréal businessman Michael Raffoul.