FP Canadian Newspapers Buys Winnipeg Publishing and Distribution Assets from Transcontinental.WINNIPEG, Manitoba -- FP Canadian Newspapers announced today it has acquired five weekly newspapers in the Winnipeg area from Transcontinental Media, as well as Transcontinental's door-to-door advertising delivery businesses in Winnipeg and Brandon, Manitoba Brandon is a city in southwestern Manitoba, Canada. The surrounding area is often referred to as "Westman". The city started as a major junction on the Canadian Pacific Railway, and the Assiniboine River and was then incorporated in 1882. and Thunder Bay Thunder Bay, city (1991 pop. 113,946), SW Ont., Canada, on Thunder Bay inlet of Lake Superior. The city was created in 1970 by the amalgamation of the twin cities of Fort William and Port Arthur and two adjoining townships. , Ontario. The five newspapers acquired are The Lance, The Metro, The Herald, The Times and The Headliner head·lin·er n. A performer who receives prominent billing; a star. Noun 1. headliner - a performer who receives prominent billing star .They have a combined weekly circulation of 169,000 copies. The advertising distribution operations reach approximately 290,000 households. The acquired operations employ about 40 people and engage numerous local contractors and hundreds of independent delivery carriers. Their revenues total approximately $8 million annually. FP Canadian Newspapers also owns the Winnipeg Free Press The Winnipeg Free Press is a daily broadsheet newspaper in Winnipeg, Manitoba. Founded in 1872, as the Manitoba Free Press, it is the oldest newspaper in western Canada. It is the newspaper with the largest readership in the province. and Brandon Sun The Brandon Sun is a daily newspaper printed in Brandon, Manitoba. It is the primary newspaper of record for western Manitoba. It was founded by Will White, with the first edition being printed on January 19, 1882. daily newspapers.The company will create a wholly-owned subsidiary, Canstar Community News Limited, with separate management to operate the newly-acquired weeklies and delivery operations. "This is an excellent addition for us which complements very well our other holdings and their related businesses," said Ronald Stern, Chairman of FP Canadian Newspapers. "We will now be able to supplement what our loyal Winnipeg readers and advertisers get from the Free Press every day with more targeted local news, features and promotional material, enhancing our ability to serve their information and advertising needs." Canstar management will report to Rudy Redekop, president of FP Canadian Newspapers, who cited the history and local neighbourhood ties of the weeklies as a strength that FP "will seek to preserve and enhance." "These Winnipeg community newspapers are well-established titles, one of which was first published in 1917," saidRedekop. "We look forward to seeing them grow and serve their communities by providing excellent neighbourhood news and features." For his part, Andre Prefontaine, president of Transcontinental Media, the publishing arm of Transcontinental Inc., said: "These newspapers and distribution services are sound operations, but are no longer strategic for us and had limited growth potential within our portfolio. Considering that FP Canadian Newspapers is a local company with a strong corporate culture and that the assets it acquired today should add value to its quite complementary holdings, this is good news for the employees and customers of both companies." About FP Canadian Newspapers Limited Partnership and FP Newspapers Income Fund FP Newspapers Income Fund (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :FP.UN) owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership. FP Canadian Newspapers Limited Partnership owns the Winnipeg Free Press, the Brandon Sun, and their related businesses.The Winnipeg Free Press newspaper publishes seven days a week, serving Winnipeg and Manitoba with an average seven-day circulation of approximately 128,000.The Brandon Sun also publishes seven days a week, serving the region with an average circulation of approximately 15,000. Based in Winnipeg, the businesses employ approximately 580 people in Winnipeg and Brandon.Further information can be found at www.fpnewspapers.com and in the disclosure documents filed by FP Newspapers Income Fund with the securities regulatory authorities available at www.sedar.com. About Transcontinental Media The fourth largest print media group in Canada, with more than 3000 employees and annual revenues of $505 million in 2003, Transcontinental Media is the country's leading publisher of consumer magazines and its second-largest publisher of community newspapers. Its titles in French and English are among the most prestigious in the industry, reaching more than 20 million readers from coast to coast every month. Transcontinental Media is also Canada's leading door-to-door distributor of advertising material, most notably through Publi-Sac, which is distributed to 2.8 million households in Quebec each week. Transcontinental Media is a wholly-owned subsidiary of Transcontinental Inc., one of the 10 largest commercial printers in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Canada's largest printer of flyers, books and newspapers, and a strong second in the printing of magazines, catalogues and directories, Transcontinental also has, through its Canadian and U.S. facilities, the geographic platform and complete service offering necessary to cover the direct marketing needs of the entire North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market. Transcontinental Inc., a Canadian corporation whose shares are listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors TCL See Tcl/Tk. Tcl - Tool Command Language .A, has more than 12,000 employees in Canada, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Mexico, and reported revenues of C$1.9 billion in 2003 |
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