Sun Media deal closes

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MONTREAL--Quebecor Inc. of Montreal has completed its acquisition of Sun Media Corp. of Toronto. The amalgamated publishing company will retain the name Sun Media and will be comprised of all the daily and weekly newspapers of Sun Media and Quebecor Communications, making it the second largest newspaper publisher in Canada, after Southam Inc.

Paul Godfrey has been appointed president and CEO of the merged company. He was formerly president-CEO of Sun Media.

A new board of directors has also approved a reorganization plan that will see the merged company operating five divisions. The Eastern Group will be responsible for papers in Quebec and in Ottawa; the Western Group will cover Alberta and Manitoba; The Toronto Sun will operate as a sole division, as will The London Free Press . The fifth division is the Community Newspaper Group, which will include all weeklies and specialty publications.

Quebecor Inc. is a communications holding company and also has interests in broadcasting and multimedia.

Copyright March 1999, Crain Communications Inc.

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