Transcontinental Says Litigation Over Métro Newspaper has Ended
Press release from the issuing company
Montreal -- The Supreme Court of Canada today refused to hear the application from Sun Media Corporation Inc. in the legal dispute regarding the daily newspaper Métro that it brought against the Montreal Transit Corporation and Publications Métropolitaines inc. Métro is owned by a partnership composed of Transcontinental Media Inc., Metro International S.A. and Gesca Limitée.
André Préfontaine, president of Transcontinental Media, said, “we are very pleased with the Supreme Court’s decision, which puts an end to the commercial litigation brought against us by Sun Media Corporation. In earlier judgments, the Quebec Superior Court and Court of Appeal had unanimously acknowledged the validity of the agreement between the Montreal Transit Corporation and Métro, declaring that the dispute was, as we had always argued, of a commercial nature. Since its launch in 2001, Métro has grown quickly and is now read by some 517,100 people per week (NADbank, spring 2004). We will continue our efforts to make this daily a product that fully meets the expectations of our readers, advertisers and partners.”
The fourth largest print media group in Canada, with more than 3000 employees and annual revenues of $524 million in 2004, Transcontinental Media is the country’s leading publisher of consumer magazines and the largest publisher of community newspapers in Eastern Canada. This subsidiary of Transcontinental Inc. also publishes the weekday daily Métro in Montreal. It is also, through Publi-Sac, Quebec’s leading door-to-door distributor of advertising material.
Transcontinental Media is a subsidiary of Transcontinental Inc. whose shares are listed on the Toronto Stock Exchange under the ticker symbols TCL.SV.A and TCL.MV.B.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.