By: Staff Reports
Media Company Must Unload TV Network
TORONTO – (The Hollywood Reporter) Looking to unload noncore assets following its $3.37 billion acquisition of Groupe Videotron Ltd., Quebec publishing giant Quebecor Inc. said this week that it is putting the French-language broadcaster Television Network TQS up for sale.
Montreal-based Quebecor said the move follows talks with the federal Competition Bureau, the government agency that will consider the Groupe Videotron purchase on market concentration grounds. Quebecor bought TQS in 1997, and also acquired within Group Videotron the TVA Group, Quebec’s largest French-language private network.
Quebecor said it had agreed to sell TQS in order to secure a green light to take possession of TVA and Groupe Videotron’s cable network comprising about 1.5 million customers.
Quebecor owns a number of newspapers in Canada and Canoe, one of the country’s largest Internet portals.
Copyright 2000, Editor & Publisher.