Wednesday, March 18, 2015

Power Corp sells French-language newspapers except for LaPresse

Power Corp. has sold all of the French-language regional newspapers in Quebec operated by its Gesca subsidiary to a new media company headed by former federal Liberal cabinet minister Martin Cauchon, CP reports.
The value of the deal announced Wednesday wasn't disclosed.Groupe Capitales Medias has purchased newspapers in Quebec City (Le Soleil), Trois-Rivieres (Le Nouvelliste), Ottawa-Gatineau (Le Droit), Sherbrooke (La Tribune), Saguenay (Le Quotidien) et Granby (La Voix de l'Est), along with their websites.However, the insurance and investment conglomerate  will continue to operate its flagship Montreal La Presse.The sale comes five months after Quebecor's Sun Media announced the sale of its English-language newspapers to Postmedia for $316 million, and about a year after Sun Media sold 74 weekly newspapers in Quebec to Transcontinental for $75 million.

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