MONTREAL, QUEBEC -- Mr. Serge Gouin, Chairman of the Board of Quebecor Media Inc., has announced that the Company's Board of Directors has approved the appointment of Mr. Pierre Karl Peladeau to the position of Vice Chairman of the Board and Chief Executive Officer. Mr. Peladeau remains President and Chief Executive Officer of Quebecor Inc., Quebecor Media's parent company. He previously occupied the position of President and Chief Executive Officer of Quebecor World. "The media and telecommunications industry is at a turning point in its development," said Mr. Gouin. "The ongoing technological revolution demands imagination, tenacity and leadership of a company such as ours, and the Board of Directors believes Pierre Karl is the man to tackle these new challenges. Just as he piloted Videotron's transition from the monopoly era into an age of fierce competition in television distribution and transformed that company into a steadily growing operation, we are confident he will lead Quebecor Media to another stage of its development and shape it into a company that is fully adapted to the new technological realities." Pierre Francoeur, President and Chief Operating Officer of Quebecor Media, will remain in his position and support Mr. Peladeau in his duties. "Quebecor Media, the company we built after the acquisition of Groupe Videotron in October 2000, enjoys the operating flexibility it needs to adjust and continue growing in the new, constantly changing environment," said Mr. Peladeau. "I know I will be able to count on a seasoned and talented management team at each of our subsidiaries, and with their efforts Quebecor Media will remain the industry leader." In a separate press release Quebecor World has announced that Mr. Wes Lucas is succeeding Mr. Peladeau as President and Chief Executive Officer of Quebecor World.