Major buyout of Quebec newspapers

Major buyout of Quebec newspapers

Quebec City (Quebec) 19 March 2015 – A media transaction of some importance took place yesterday, March 18, between Gesca and Groupe Capitale Médias (GCM) involving six different regional newspapers including Quebec City’s Le Soleil and Ottawa’s Le Droit.

Martin Cauchon, an ex-Liberal party Minister, bought the rights to, other than Le Soleil and Le Droit , La Tribune (Sherbrooke), Le Nouvelliste (Trois Rivières), Le Quotidien (Saguenay) and La Voix de l’Est (Granby) under his private company GCM.

The deal went down a week ago between M. Cauchon and Claude Gagnon, the editor in chief of Le Soleil, as a private transaction between two private companies.

M. Cauchon is the sole shareholder of GCM.

M. Gagnon will remain as president and editor-in -chief of Le Soleil.

Both individuals feel there is still a need for printed newspapers in a regional context and will slowly change over to a digital format over the coming years but, explain that there is no rush to change the existing format. Nor do they say the content of each publication will change any time soon.

Le Soleil will maintain a certain partnership with La Presse in Montreal for newsgathering and publishing matters much as it does right now.

M. Cauchon, who has put an end to his political aspirations for the time being, is confident his new acquisition will be a satisfactory one for all the people involved in publishing local newspapers in and around the province.

M. Cauchon hails from the Charlevoix region and remembers his father reading Le Soleil after work every day when it was still an afternoon publication.

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