Branchez-Vous to buy AgenceNews
By Adnews Staff
Montreal-based Branchez-Vous has signed an agreement to buy AgenceNews, the Internet division of Genex Communications. The main assets of the division are the websites Matinternet.com, which covers general news, and Showbizz.net, which covers entertainment news. The sites attract approximately 150,000 and 240,000 Canadian visitors per month, respectively. "Showbizz.net is the leading site covering stars and entertainment in Quebec," said Patrick Pierra, CEO of Branchez-Vous. "Mostly geared towards young adults, it will become the second pillar of our content division, besides our tech-focused Branchez-Vous.com portal. As for Matinternet, a truly online daily newspaper, it is mostly visited by adults from 25 to 54 with a male skew. It will greatly strengthen our Branchez-Vous.com portal, which it perfectly complements." The deal also includes the websites CirculationMontreal.com, Info-affaires.com and SummumSports.com. The price is $600,000, half of which will be paid in cash and half in Branchez-Vous shares. The purchase, which is subject to regulatory approval, is expected be concluded in the second quarter of the year.