TORONTO, Sept. 10 /CNW/ - The Woodbridge Company Limited announced today
that it will acquire direct ownership of Canada's National Newspaper,
The Globe and Mail.
Woodbridge is the investment vehicle for Canada's Thomson family.
The Globe and Mail has been in print for more than 166 years, and
currently has circulation of 300,000 and weekday readership of 930,000,
and an average Saturday circulation of 380,000 and readership of 1
million. The Globe's websites attract an average of 3 million unique
visitors generating over 90 million page views each month. The Globe
will be launching a previously planned redesign of the newspaper on
October 1, using the next generation of print technology. The business,
headquartered in Toronto, has approximately 750 employees across Canada
and in international bureaus.
Woodbridge has had an indirect interest in The Globe and Mail since
1980. In 2001 The Globe and Mail was combined with broadcast assets
held by BCE to form the business now known as CTVglobemedia. It was also
announced today that Woodbridge intends to sell its 40% interest in
CTVglobemedia to BCE.
Woodbridge will own 85% of The Globe and Mail and BCE will continue to
"The Globe and Mail is the country's finest media property," said David
Thomson. Mr. Thomson, along with his brother Peter, are the Chairmen of
Woodbridge. "One of the world's quality newspapers, The Globe has
created for itself a leading position in the digital arena and has the
opportunity for ever more success through innovative talent and its
relationship with BCE."
"The Globe and Mail is pleased with Woodbridge's increased investment,"
said Phillip Crawley, Publisher and CEO of The Globe and Mail.
"Woodbridge has a remarkable tradition of providing editorial
independence and financial discipline. We think this enlarged
commitment is an outstanding platform for us to move forward with the
exciting changes we are planning at The Globe in order to maintain our
leadership position as Canada's National Newspaper. We are also pleased
that BCE, Canada's largest communications company, will continue to be a
"This transaction, together with Woodbridge's agreement to invest in BCE
as part of the sale of their interest in CTVglobemedia, reflect
Woodbridge's confidence in BCE's ability to maximize its strategic and
operating synergies with CTV," said George Cope, President and CEO of
BCE. "We look forward to playing a role in The Globe's continuing
evolution as a leader in digital and mobile media. The Globe can help
deliver great Canadian content that our customers want," said Cope.
About The Globe and Mail
The Globe and Mail is Canada's national newspaper, delivering news,
business, sports, arts and lifestyle content across all media platforms.
About The Woodbridge Company Limited
The Woodbridge Company Limited is the primary investment vehicle for the
Thomson family of Canada. It has a number of investments, including a
55% stake in Thomson Reuters, listed on the Toronto and New York stock
BCE is Canada's largest communications company, providing the most
comprehensive and innovative suite of communication services to
residential and business customers in Canada. Operating under the Bell
and Bell Aliant brands, the Company's services include telephone
services, wireless communications, high-speed internet, digital
television, IP-broadband services and information and communications
technology (ICT) services. BCE shares are listed in Canada and the
United States. For corporate information on BCE, please visit
SOURCE THE WOODBRIDGE COMPANY LIMITED
For further information: For further information:
The Globe and Mail, Contact: Phillip Crawley, Publisher and CEO (416) 585 5000
The Woodbridge Company Limited, Contact: David Binet, Executive Vice President (416) 364 8700
BCE, Contact: Mark Langton, Bell Media Relations (416) 581 4339