Quebecor Media Inc. Announces Final Results of its Tender Offer
March 29 2012 - 5:15PM
Marketwired
Quebecor Media Inc. ("Quebecor Media") (TSX:QBR.A)(TSX:QBR.B) today
announced that, in connection with its previously announced cash
tender offer (the "Tender Offer") to purchase up to US$260,000,000
in aggregate principal amount of Quebecor Media's 7 3/4% Senior
Notes due March 15, 2016 (CUSIP 74819RAG1) (the "Notes") which
expired at 12:01 a.m., New York City time, on March 28, 2012 (such
date and time, the "Expiration Date"), the tender offer and
information agent for the Notes under the Tender Offer has advised
Quebecor Media that no additional principal amount of the Notes has
been validly tendered and not withdrawn pursuant to the Tender
Offer at or prior to the Expiration Date.
Based on the foregoing, approximately US$446,473,000 aggregate
principal amount of Notes had not been tendered as of the
Expiration Date. As announced on March 14, 2012, Quebecor Media
intends to redeem, on April 13, 2012, US$100,000,000 aggregate
principal amount of Notes outstanding on April 13, 2012 at a price
equal to 102.583% of such Notes, plus accrued and unpaid interest
pursuant to the terms of the indenture governing the Notes. Also,
as announced on March 28, 2012, Quebecor Media intends to redeem,
on April 27, 2012, US$81,473,000 aggregate principal amount of
Notes outstanding on April 27, 2012 at a price equal to 102.583% of
such Notes, plus accrued and unpaid interest pursuant to the terms
of the indenture governing the Notes.
This announcement does not constitute an offer to buy or the
solicitation of an offer to sell securities in any jurisdiction or
in any circumstances in which such offer or solicitation is
unlawful. In those jurisdictions where the securities laws require
the Tender Offer to be made by a licensed broker or dealer, the
Tender Offer was deemed to be made by the Dealer Managers or one or
more registered brokers or dealers licensed under the laws of such
jurisdiction. The securities mentioned herein have not been and
will not be qualified for sale to the public under applicable
Canadian securities laws.
About Quebecor Media Inc.
Quebecor Media Inc. is a subsidiary of Quebecor Inc.
(TSX:QBR.A)(TSX:QBR.B), one of Canada's most important holding
company operating in the telecommunications and media businesses.
With more than 16,000 employees, Quebecor Media Inc., through its
subsidiary Videotron Ltd., is an integrated communications company
engaged in cable television, interactive multimedia development,
Internet access services, cable telephone services and mobile
telephone services. Through Sun Media Corporation, Quebecor Media
Inc. is the largest publisher of newspapers in Canada. It also
operates Canoe.ca and its network of English and French language
Internet properties in Canada. In the broadcasting sector, Quebecor
Media Inc. operates, through TVA Group Inc., the number one French
language general interest television network in Quebec, a number of
specialty channels and the SUN News English language channel.
Another subsidiary of Quebecor Media Inc., Nurun Inc., is a major
interactive technologies and communications agency with offices in
Canada, the United States, Europe and Asia. Quebecor Media Inc. is
also active in magazine publishing (TVA Publishing Inc.), book
publishing and distribution (Sogides Group Inc. and CEC Publishing
Inc.), the production, distribution and retailing of cultural
products (Archambault Group Inc. and TVA Films), video game
development (BlooBuzz Studios, L.P.), DVD, Blu-ray disc and
videogame rental and retailing (Le SuperClub Videotron Ltd), the
printing and distribution of regional newspapers and flyers
(Quebecor Media Printing Inc. and Quebecor Media Network Inc.),
news content production and distribution (QMI Agency),
multiplatform advertising solutions (QMI Sales) and the publishing
of printed and online directories, through Quebecor
MediaPages(TM).
Forward Looking Statements
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation and
"forward-looking statements" within the meaning of United States
federal securities legislation (collectively, "forward-looking
statements"). All statements other than statements of historical
facts included in this press release, including statements
regarding our industry and our prospects, plans, financial position
and business strategy, 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. Such statements include, in particular, statements
about our plans, prospects, financial position and business
strategies. Words such as "may," "will," "expect," "continue,"
"intend," "estimate," "anticipate," "plan," "foresee," "believe" or
"seek" or the negatives of these terms or variations of them or
similar terminology are intended to identify such forward-looking
statements. Although we believe that the expectations reflected in
these forward-looking statements are reasonable, these statements,
by their nature, involve risks and uncertainties and are not
guarantees of future performance. Such statements are also subject
to assumptions concerning, among other things: our anticipated
business strategies; anticipated trends in our business; and our
ability to continue to control costs. We can give no assurance that
these estimates and expectations will prove to have been correct.
Actual outcomes and results may, and often do, differ from what is
expressed, implied or projected in such forward-looking statements,
and such differences may be material. For additional information
regarding some important factors that could cause actual results to
differ materially from those expressed in these forward-looking
statements and other risks and uncertainties, and the assumptions
underlying the forward-looking statements, you are encouraged to
read "Item 3. Key Information - Risk Factors" as well as statements
located elsewhere in Quebecor Media's annual report on Form 20-F
for the year ended December 31, 2011. Each of these forward-looking
statements speaks only as of the date of this press release. We
will not update these statements unless applicable securities laws
require us to do so.
Contacts: Jean-Francois Pruneau Chief Financial Officer Quebecor
Inc. and Quebecor Media Inc. 514
380-4144jean-francois.pruneau@quebecor.com J. Serge Sasseville
Senior Vice President, Corporate and Institutional Affairs Quebecor
Media Inc. 514 380-1864serge.sasseville@quebecor.com
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