Transcontinental Acquires Newspapers In The Atlantic Provinces

Press release from the issuing company

Montreal, June 5, 2003 – Transcontinental Media today announced the acquisition of the daily newspaper the Amherst Daily News, weeklies the Citizen and Sackville Tribune-Post, and related publications from Nova Scotia’s Cumberland Publishing and New Brunswick’s Sackville Tribune-Post. Also included in the transaction are the newspapers’ printing and distribution operations. Together, these operations employ about forty people and produce annual revenues of close to $4 million. With this acquisition, Transcontinental strengthens its position as printer and leading publisher of community newspapers in the Atlantic Provinces, and augments its distribution network. “We have acquired well-managed and profitable newspapers that offer great potential for development and will add to our network of papers, mainly in Nova Scotia,” said André Préfontaine, President of Transcontinental Media. “We are also going to increase our commercial printing volumes, most notably with the clients of these acquired newspapers.” Earl Gouchie, owner of the two newly acquired businesses, said that at 67, it was time for him to retire: “The future of our newspapers is in good hands with Transcontinental, which already owns many daily and weekly newspapers in the Atlantic Provinces, and which has the printing and publishing expertise, as well as the resources, to pursue the development of these assets.”