More Transcontinental titles up for sale

A total of 93 newspapers have been put up for sale, mostly from Quebec.
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Days after it sold 28 publication brands in Atlantic Canada to The Chronicle Herald, Transcontinental Inc. has put nearly 100 newspapers up for sale, mostly in Quebec. Cornwall, Ont.’s community publication The Seaway News is also included in the listing.

“In light of TC Transcontinental’s business transformation strategy, already underway with steps including the sale of our media assets in Saskatchewan in 2016 and of our media properties in Atlantic Canada last week, we also undertook a strategic review of our local newspaper publishing activities in Quebec and Ontario,” François Olivier, president and CEO of Transcontinental, in a release. “We are convinced that selling these assets to local players is the best course of action in order to contribute to the continued sustainability of local media.”

Properties for sale from the Montreal-based publisher include Montreal’s free daily Métro newspaper, Le Plateau, Les Nouvelles Hochelaga-Maisonneuve and 90 others.

It also plans to seek potential buyers for the printing and distribution of the newspapers up for sale. However, Transcontinental will not sell its various specialty and trade publications in the province, and said it will continue to publish those newspapers that go unsold.

The sale process will span several months, and will be managed by Raymond Chabot Grant Thornton.

 

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