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May 26, 2017

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Canada's largest printer withdrawing from newspaper-publishing game

MONTREAL -- Canada's largest printing company Transcontinental continued its pullback from newspaper publishing by announcing Tuesday that it is selling nearly 100 local papers, including the Montreal daily Metro.

The company invited bids for the 93 papers in Quebec and Ontario provinces over the next "several months."

In a statement, Transcontinental president Francois Olivier said "that selling these assets to local players is the best course of action in order to contribute to the continued sustainability of local media and to foster greater connections with the advertisers and communities they serve."

The move comes after Transcontinental recently sold 28 newspapers and four printing plants in Canada's easternmost Maritimes region, and 13 newspapers and magazines in western Saskatchewan province last year.

The company will still retain several specialty magazines for business, financial and construction sectors.

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