Groupe Lexis Média inc. acquires three more TC Media publications: L’Avantage votre journal, L’Avantage Gaspésien and L’Avant-Poste

Transcontinental Inc.’s (TSX: TCL.A TCL.B) Media Sector, TC Media, announces today the sale of three more of its local newspapers, as well as their related web properties, to Groupe Lexis Média inc., a company of which Mr. Frédéric Couture is President. In total, 26 employees of the various publications and 1 employee from TC Media’s Production team are transferred to Groupe Lexis Média inc. TC Transcontinental also concluded a multi-year agreement for the printing and distribution of all of these titles.

The publications sold to Groupe Lexis Média inc. are: L’Avantage votre journal (Rimouski), L’Avantage Gaspésien (Matane) and L’Avant-Poste (Amqui).

“We are pleased to conclude today the sale of three more of our publications to Groupe Lexis Média inc.,” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “Six months ago, this publisher acquired 12 of our local newspapers as part of our sale process launched a year ago. We are thrilled to see that, on the heels of this first experience, Groupe Lexis Média has decided to pursue its growth with the purchase of three more of our titles which enjoy a valued position in their communities. I also would like to thank all our employees who have helped these publications thrive over the years through their professionalism and dedication. I wish you all much success in your future endeavours. After this transaction, I am proud to confirm that there is only one publication left to sell in our local newspaper portfolio.”

Frédéric Couture, President of Groupe Lexis Média inc., added: “We are very enthusiastic about these three new acquisitions. Once again, we are acquiring quality publications and highly talented employees from TC Media. With our team already in place, we will, more than ever, serve communities, readers and advertisers with unique products that meet their needs and proudly bear the Groupe Lexis Média signature. Indeed, this new acquisition highlights the successful and promising development of our portfolio of media activities.”

With the completion of today’s transaction, only the Seaway News newspaper of Cornwall is still part of the sale process of TC Media’s 93 local and regional publications in Québec and Ontario and it is generating interest in the market.

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