Quebec Investors Join Quebecor Media in Offer to Buy Montreal Canadiens
June 10 2009 - 7:39PM
Marketwired
Quebecor Media has filed a formal offer to purchase the Montreal
Canadiens hockey team and its properties tomorrow with BMO
Financial Group, which is acting on behalf of the Gillett family,
the owner of the team and its assets. The offer has been approved
by the Caisse de depot et placement du Quebec, co-shareholder with
Quebecor of Quebecor Media. The Fonds de solidarite FTQ and
Productions Feeling, Rene Angelil's management company, are
supporting Quebecor Media's offer and contributing their
complementary range of expertise to the bid.
"The Montreal Canadiens hockey team is unquestionably one of the
most prestigious and iconic sports franchises in the world," said
Pierre Karl Peladeau, President and Chief Executive Officer of
Quebecor. "The team has been part and parcel of our history for a
hundred years. We therefore regard this as a golden opportunity for
a Quebec group to return this grand institution to local ownership.
The stature, calibre and sense of enterprise of the business people
and organizations supporting this project demonstrate that this is
a serious offer and we are determined to reach an agreement with
George Gillett and the National Hockey League."
Closer to the fans
Though a century old, the Montreal Canadiens have successfully
adapted their marketing and branding approach over the years. The
team has developed a close and unique bond with the public. In the
future, the challenge will be to continue drawing crowds to the
arena while reaching fans wherever they may be via new media such
as the Internet and mobile services. Like organizations in many
other spheres where consumers have a growing array of available
choices, the Canadiens are facing increasing competition for sports
and entertainment dollars. The team's future owner will therefore
have to keep the relationship with the fans strong by adapting to
new lifestyles. Increasingly, Quebecers expect to be able to follow
events in real time and interactively wherever they are. This
principle also applies to the Gillett Group's other show business
and entertainment operations, which have expanded considerably in
recent years.
Quebecor Media believes it can move the organization forward in
this respect and make the Canadiens still more accessible to the
mass audience, in keeping with the public's needs and expectations.
Quebecor Media's numerous subsidiaries have repeatedly demonstrated
their ability to make concerted investments to offer all Quebecers,
regardless of whether they are in Montreal or Saguenay, age 7 or
77, an adapted and optimal entertainment experience.
Following in the footsteps of other organizations that have
introduced similar business models, including the Toronto Maple
Leafs, Philadelphia Flyers and New York Rangers, Quebecor Media
plans to bring all parties - fans, advertisers, producers,
performers, technicians, etc. - the benefits of an approach that
generates more wealth and creates more Quebec jobs.
Quebecor Media
Quebecor Media Inc. is a subsidiary of Quebecor Inc. (TSX:
QBR.A) (TSX: QBR.B), a communications company with operations in
North America, Europe and Asia. Quebecor Media 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; 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 publishers and distributors Sogides Group
Inc. and CEC Publishing Inc.; Archambault Group Inc. and TVA Films,
companies engaged in the production, distribution and retailing of
cultural products; Le SuperClub Videotron ltee, a DVD and console
game rental and retail chain; and Quebecor MediaPages, publisher of
print and online directories.
Contacts: Quebecor Media Inc. Isabelle Dessureault Vice
President, Public Affairs 514-380-7501
isabelle.dessureault@quebecor.com
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