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Quebecor Media to buy Osprey Media

Quebecor Media of Montreal has entered into an agreement to acquire Toronto-based Osprey Media for approximately $519 million. Osprey publishes 20 daily newspapers and 34 non-daily newspapers in Canada, as well as a number of shopping guides, magazines and other publications. The company’s board of trustees has recommended the deal to its shareholders, and its two main owners, Scotia Merchant Capital and the Ontario Teachers Pension Plan, have conditionally accepted. The transaction is expected to close, pending regulatory approvals, in August. “We believe that the addition of the assets of Osprey to our existing portfolio in the print media sector will make our organization better equipped to meet the challenges facing our industry,” said Pierre Karl Péladeau, president and CEO of Quebecor Media. “With the combination of Sun Media and Osprey, Quebecor Media consolidates its role as a leader in the industry.”

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