MONTREAL, Feb. 11 /CNW Telbec/ - Transcontinental Media today announced
that effective immediately it will no longer publish The Daily News of
Halifax. Transcontinental also announced the launch of a free daily newspaper,
Metro, for Halifax residents in partnership with Metro International S.A. and
Torstar Corporation. The first edition of Metro in Halifax will be published
"We worked hard to deliver an economically viable newspaper in the
Halifax market with The Daily News," said Marc-Noel Ouellette, Senior Vice
President, Newspaper Group, Transcontinental Media. "It was an extremely tough
business decision which does not affect Transcontinental's Halifax area
distribution network, its four locally published weekly newspapers or the real
estate guide Transaction.
"In this context, we are delighted to continue our presence as a daily
newspaper publisher in the Halifax market with Metro International S.A. and
Torstar Corporation," added Mr. Ouellette. "We're proud that the paper will be
printed at our Ragged Lake printing facility."
Metro editions are published in more than 100 major cities in Europe,
North and South America and Asia. In Canada, Metro is published in Vancouver,
Edmonton, Calgary, Toronto, and Ottawa, as well as in Montreal, where
Transcontinental is also its publisher and printer.
Transcontinental acquired The Daily News tabloid in 2002, which had a
circulation of about 20,000 copies. The 92 employees with The Daily News will
be offered severance and outplacement services. A few will find employment
opportunities within the Transcontinental network in Nova Scotia, which has
approximately 800 employees and encompasses 11 weekly and 4 daily newspapers,
a distribution network and 2 printing facilities.
About Transcontinental Media
The fourth-largest print media group in Canada, with more than
3,000 employees and annual revenues of $633 million in 2007, Transcontinental
Media is the country's leading publisher of consumer magazines and of
French-language educational resources as well as being the largest publisher
of community newspapers in Eastern Canada. It publishes the weekday daily
Métro in Montreal, owns a number of digital business units, and is also,
through Publi-Sac, Quebec's leading door-to-door distributor of advertising
Transcontinental Media is a subsidiary of Transcontinental Inc.
(TSX: TCL.A, TCL.B), which has approximately 15,000 employees in Canada, the
United States and Mexico and reported revenues of C$2.3 billion in 2007.
For further information:
For further information: Media: Nessa Prendergast, Director, Media
Relations, Transcontinental Inc., (514) 954-2809,
email@example.com, www.transcontinental.com; Financial
Community: Jennifer F. McCaughey, Director, Investor Relations,
Transcontinental Inc., (514) 954-2821, firstname.lastname@example.org