FP Newspapers Income Fund Announces Acquisition of Winnipeg Specialty Publications.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- 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), today announced the acquisition by Canstar Community News Limited of Winnipeg based Rosebud Publications Ltd. Canstar Community News Limited is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of FP Canadian Newspapers Limited Partnership. The Fund owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership. Rosebud Publications Ltd. is the publisher of Uptown Magazine, a weekly entertainment newspaper serving Winnipeg, with a circulation of approximately 17,000 copies. A subsidiary of Rosebud is the publisher of The Prime Times newspaper, aimed at age-50 plus readers in Winnipeg and area, with a twice-monthly circulation of approximately 10,000 copies. "These well regarded specialty publications Specialty Publications is an American publisher of gay erotic material. Their 'Men' Magazine has been the #1-selling gay male erotic magazine for over 25 years.[1] Magazines
The acquired publications generate approximately $800,000 in revenue annually. Terms of the acquisition were not announced. FP Canadian Newspapers Limited Partnership 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. , the 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. , and their related businesses, as well as Canstar Community News Limited, the publisher of five community newspapers in the Winnipeg region. The Winnipeg Free Press newspaper publishes seven days a week, serving Winnipeg and Manitoba with an average seven-day circulation of approximately of 125,000. The Brandon Sun also publishes seven days a week, serving the region with an average circulation of approximately 15,000. Canstar Community News publishes weekly with an average circulation of approximately 182,000. Based in Winnipeg, the businesses employ approximately 620 people in Winnipeg, Brandon 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. . 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. FP Newspapers Income Fund (TSX:FP.UN) |
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