Quebecor Inc. Issues Clarification Concerning Disclosure of Results of Quebecor World Inc.
April 29 2008 - 2:52PM
Marketwired
MONTREAL, QUEBEC (TSX: QBR.B) specifies that Quebecor World is a
legal entity distinct from Quebecor and Quebecor World's announced
net losses have no impact on Quebecor's liquidity.
On January 21, 2008, Quebecor World Inc. placed itself under the
protection of the Companies' Creditors Arrangement Act in Canada
and Chapter 11 of the Bankruptcy Code in the United States. As a
result, Quebecor does not expect to realize any future earnings on
its investment in Quebecor World. Quebecor has not secured Quebecor
World's commitments, including its debt and advances under its
securitization programs. In accordance with generally accepted
accounting principles, Quebecor ceased consolidating the result of
Quebecor World as of January 21, 2008.
Quebecor Inc. plans to release its financial results for the
2007 financial year and the results of its Quebecor Media
subsidiary for the first quarter of 2008 during the week of May 5,
2008.
The Company
Quebecor Inc. (TSX: QBR.A)(TSX: QBR.B) is a holding company with
interests in two companies, Quebecor Media Inc. and Quebecor World
Inc. Quebecor holds a 54.7% interest in Quebecor Media, which owns
operating companies in numerous media-related businesses: Videotron
Ltd., the largest cable operator in Quebec and a major Internet
Service Provider and provider of telephone and business
telecommunications services; Sun Media Corporation, the largest
publisher of newspapers in Canada; Quebecor MediaPages, a publisher
of print and online directories; TVA Group Inc., operator of the
largest French-language over-the-air television network in Quebec,
a number of specialty channels, and the English-language
over-the-air station Sun TV; Canoe Inc., operator of a network of
English- and French-language Internet properties in Canada; Nurun
Inc., a major interactive technologies and communications agency
with offices in Canada, the United States, Europe and Asia;
magazine publisher TVA Publishing Inc.; book publisher and
distributor Quebecor Media Book Group Inc.; Archambault Group Inc.
and TVA Films, companies engaged in the production, distribution
and retailing of cultural products, and Le SuperClub Videotron
ltee, a DVD and console game rental and retail chain. Quebecor
World is a commercial print media services company with operations
in North America, Europe, Latin America and Asia.
Contacts: Louis Morin Vice President and Chief Financial Officer
514-380-1912 Luc Lavoie Executive Vice President, Corporate Affairs
514-380-1974 514-947-6672 (mobile) lavoie.luc@quebecor.com
Quebecor (TSX:QBR.A)
Historical Stock Chart
From Jun 2024 to Jul 2024
Quebecor (TSX:QBR.A)
Historical Stock Chart
From Jul 2023 to Jul 2024