Yellow Pages Group to buy Trader Media
By Adnews Staff
Yellow Pages Group of Montreal has entered into an agreement to acquire Trader Media of Toronto for approximately $436 million. Trader Media publishes 65 Ontario classified ad magazines and eight websites, including Auto Trader, Auto Mart, Renters News, New Homes and Condos, Resale Homes, Home & Decor, Employment News, Triad News, I-Sell and Super Shopper. John Francis will remain president of Trader Media and will become a member of the Yellow Pages Group management staff. The companies expect no changes to the current Trader Media management structure. "TMC brings significant value to YPG to help us continue to grow in the advertising market," said Yellow Pages Group CEO Marc Tellier. "We will do so by drawing on our core competencies in local advertising, including our ubiquitous brands and products, our rich local content both print and online, and our extensive advertiser relationships." The deal is expected to close by Feb. 15, pending regulatory approvals and other conditions.