Transcontinental sells 12 small Quebec newspapers to Groupe Lexis Media
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MONTREAL — Transcontinental Inc. has sold 12 Quebec newspapers and their related web properties to Groupe Lexis Media Inc.
Financial terms of the deal were not immediately available.
Under the agreement, 75 employees of the various publications and 16 employees from TC Media's production team have been transferred to Groupe Lexis Media.
Transcontinental (TSX:TCL.A, TSX:TCL.B) also signed a multi-year agreement for the printing and distribution of all of the titles as well as for the printing of the magazines already owned by Lexis Media.
The newspapers sold to Groupe Lexis Media are: Le Citoyen Rouyn-Noranda, Le Citoyen de la Vallee-de-l'Or, L'Echo Abitibien and La Frontiere, distributed in Abitibi-Temiscamingue; L'Action D'Autray, L'Action - Wednesday Edition, L'Action - Weekend Edition, L'Express Montcalm and Hebdo Rive-Nord, in Lanaudiere; Le Bulletin, La Petite-Nation and La Revue, in Outaouais.
Transcontinental launched a plan to sell its local and regional newspapers in Quebec and Ontario in April. It says 60 per cent of the publications included in the process are now in the hands of local owners.