Sun Media Corporation Announces Notice of Redemption for Any and All of its 7 5/8% Senior Notes Due 2013
January 10 2011 - 7:30AM
Marketwired
Sun Media Corporation today announced that it has issued a notice
of redemption for any and all of its outstanding 75/8% Senior Notes
due 2013. As set forth in the notice of redemption issued today,
the redemption date is February 15, 2011, and the redemption price
is par (plus, accrued and unpaid interest, if any). Sun Media will
finance this redemption using cash-on-hand and a portion of the net
proceeds of a contribution to it from Quebecor Media Inc. that will
be funded with a portion of Quebecor Media's previously completed
private offering of 73/8% Senior Notes due 2021.
This announcement does not constitute an offer to buy or sell or
the solicitation of an offer to sell or buy any securities in any
jurisdiction. The securities mentioned herein have not been and
will not be qualified for sale to the public under applicable
Canadian securities laws and, accordingly, any offer and sale of
the securities in Canada will be made on a basis which is exempt
from the prospectus requirements of such securities laws.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the United States Securities Act of
1933, as amended, and Section 21E of the United States Securities
Exchange Act of 1934, as amended, and forward-looking information
within the meaning of National Instrument 51-102 Continuous
Disclosure Obligations in Canada (collectively, "forward-looking
statements"). All statements other than statements of historical
facts included in this press release, may constitute
forward-looking statements. These forward-looking statements are
based on current expectations, estimates, forecasts and projections
about the industries in which we operate as well as beliefs and
assumptions made by our management. By their nature,
forward-looking statements require us to make assumptions and are
subject to important known and unknown risks and uncertainties,
which may cause our actual results in future periods to differ
materially from those set forth in the forward-looking statements.
For additional information regarding these risks and uncertainties,
and the assumptions underlying the forward-looking statements, you
are encouraged to read the section entitled "Risk Factors" of Sun
Media's annual report on Form 20-F for the year ended December 31,
2009 as well as the section entitled "Risks and Uncertainties" in
the Management Discussion and Analysis report for the year ended
December 31, 2009 prepared by Quebecor Inc. for further details and
descriptions of these and other factors. We will not update these
statements unless applicable securities laws require us to do
so.
About 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., an
integrated communications company engaged in cable television,
interactive multimedia development, Internet access services, cable
telephony and wireless telephone service; Sun Media Corporation,
the largest publisher of newspapers in Canada; Canoe.ca., operator
of a network of English and French language Internet properties in
Canada; Quebecor Media Network, provider of flyer printing and
distribution services; 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; 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 Inc. and Quebecor Media Inc. Jean-Francois
Pruneau Chief Financial Officer 514-380-4144
jean-francois.pruneau@quebecor.com Quebecor Media Inc. J. Serge
Sasseville Vice President, Corporate and Institutional Affairs
514-380-1864 serge.sasseville@quebecor.com
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