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ARTICLE · 03 JUNE 2014

Extra! Extra! Competition Bureau Requires Community Papers Be Sold In Transcontinental/Quebecor Deal

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The Competition Bureau entered into a Consent Agreement with Transcontinental Inc. in connection with its acquisition of Quebecor Media’s portfolio of 74 community newspapers.

CanadaAntitrust/Competition Law
Imran Ahmad
Imran Ahmad
Christopher Hersh
Christopher Hersh
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On May 28, 2014, the Competition Bureau (the "Bureau") announced that it had entered into a Consent Agreement (the "Agreement") with Transcontinental Inc. ("Transcontinental") in connection with its acquisition of Quebecor Media's ("Quebecor") portfolio of 74 community newspapers throughout the Province of Québec. The Agreement requires the divestiture of 34 local community newspapers. The Agreement states that there is no minimum sale price for the papers to be divested and that Transcontinental may be allowed to retain ownership of papers that cannot be sold.

Background

On December 5, 2013, Transcontinental agreed to acquire Quebecor's entire community newspaper portfolio, including web, mobile and printed formats, as well as regional offices and pre-press hubs located in Rimouski, Saint-Georges and Val D'Or (the "Proposed Transaction"). 

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