19 November 2014
Transcontinental sell consumer magazines; keeps print contracts
MONTREAL—Transcontinental Inc. is selling 15 of its consumer magazines, accompanying websites and related platforms to TVA Group Inc. Some of the publications included in the $55.5 million transaction include Coup de Pouce; Elle Québec; Décormag; Le Bel Âge Magazine; Magazine Véro; recettes.qc.ca; Canadian Living; Style at Home; Elle Canada; Good Times and The Hockey News. Vancouver Magazine and Western Living will remain the property of TC Media.

“Transcontinental Inc. has decided to now focus on the local advertising market, which offers us more business opportunities through our 180-odd newspapers in Quebec, Ontario, Saskatchewan and the Atlantic provinces,” François Olivier, President and Chief Executive Officer said.  “This important phase in the evolution of the Corporation also gives TC Media full latitude to further develop its digital and interactive marketing products for retailers, among others, and to advance the production and delivery of content in the fields of business and education.”

The deal is subject to approval by regulators, including the Competition Bureau and includes an agreement between the two companies which will see Transcontinental print the magazines and marketing products for a seven year period, and an extension of the contracts that were signed in December 2013 to print TVA magazines until the end of June 2022. 310 Transcontinental employees were affected by this announcement, and will follow their respective brands to the TVA Group. 

"TVA Group has extensive experience in magazine publishing,” Julie Tremblay, President and CEO of Media Group and TVA Group said. “This transaction will enable us to capture significant operational synergies and secure the segment's long-term profitability and viability. We anticipate that after these magazines are acquired they will contribute between $10 million and $14 million to operating earnings annually."

*This articles was also published on our sister site MastheadOnline *

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