Sun Media Continues Restructuring Initiatives
July 16 2013 - 11:45AM
Marketwired
Sun Media Corporation announces the elimination of 360 positions,
the closing of 8 publications across the country and 3 of its free
urban dailies, the 24 Hours newspapers in Ottawa, Calgary and
Edmonton, as well as a series of initiatives to enhance operational
efficiencies. The strategic overhaul is expected to yield annual
savings of approximately $55 million.
"In recent years, the print media industry has been going
through an unprecedented transformation such as it has never seen
before," said Julie Tremblay, Chief Operating Officer, Sun Media
Corporation. "The management decisions we are making are difficult
and highly regrettable, particularly the job cuts. However, the
downsizing is necessary to maintain a strong positioning for our
news media outlets on all platforms, and more broadly to secure our
Corporation's future success in an industry that is being
revolutionized by the advent of digital. To the employees who are
leaving us, we extend our heartfelt thanks for their contribution
and we wish them every success in the future.
"Digital is more than a strong trend," Ms. Tremblay noted.
"Today, young people are getting their information almost
exclusively from digital sources such as computers, smartphones and
tablets. We are working to meet the needs of all our readers and
advertisers in this new environment. We are therefore making
investments and expanding our high-potential newspapers and
publications across all platforms, print and digital."
The closing of the three 24 Hours newspapers is a result of Sun
Media's decision to focus on a single urban newspaper in each
market, except Montreal and Toronto, where the mass transit systems
warrant the continuation of Sun Media Corporation's free dailies as
well. With the continued publication of 24 Hours in Vancouver, Sun
Media remains present in all of Canada's major urban markets.
In addition to these three 24 Hours, the following 8 titles have
already ceased or will cease publication: L'Action Regionale in
Monteregie (Quebec), The Lindsay Daily Post (Ontario), The Midland
Free Press (Ontario), The Meadow Lake Progress (Saskatchewan), The
Lac du Bonnet Leader (Manitoba), The Beausejour Review (Manitoba),
Le Magazine Saint-Lambert (Quebec) et Le Progres de Bellechasse
(Quebec).
About Sun Media Corporation
Sun Media Corporation, a subsidiary of Quebecor Media Inc., is
Canada's largest newspaper publisher, based on paid and free
circulation, publishing over 15.1 million copies each week. With 36
paid-circulation daily newspapers and 3 free dailies in 9 of the 10
largest urban markets in Canada, each with its own dedicated
website, and almost 200 community newspapers, shopping guides and
other specialty publications, Sun Media Corporation's English and
French language newspapers and websites make it a leading provider
of local news and information. Sun Media Corporation includes the
activities of Osprey Media and Canoe.ca, an integrated enterprise
offering e-commerce, information and communication services that
operates a network of Internet portals that attracts over 10.5
million unique visitors per month in Canada, including 5.7 million
in Quebec. Sun Media Corporation also provides a range of
commercial printing and related services as well as distribution
services for newspapers, flyers and magazines.
Contacts: Martin Tremblay Vice President, Public affairs
Quebecor Media 514-380-1985martin.tremblay@quebecor.com
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