TVA GROUP TO ACQUIRE QUEBECOR MEDIA MAGAZINE DIVISION
By Adnews Staff
TVA Group is set to acquire the magazine division of Quebecor Media for $36 million in cash. The acquisition of Publicor is expected to be completed by the end of the week. An additional payment of up to $6 million may be made over the next four years. Publicor publishes 23 French-language magazines that focus on decorating, business and women's interests. Its titles include Décoration chez-soi, Les idées de ma maison, Rénovation-Bricolage, Clin d'oeil, Femme and Filles d'aujourd'hui. Raynald Brière, president and chief executive officer of TVA, said the acquisition will strengthen TVA's leadership of Quebec's magazine industry. "Publicor's content will complement the content of TVA's service and variety shows," he said. Montreal-based TVA's publications include 7 Jours, TV 7 Jours, Le Lundi and Dernière Heure. Its properties also include a number of television stations.