Black buys six Thomson papers

Article Abstract:

Thomson Corp. of Toronto, Ontario, is selling all its newspapers in Vancouver, British Columbia, to Southam Inc. for an undisclosed amount. The sale confirms speculation that Thomson may sell some its Vancouver assets and includes two island dailies, which have a combined circulation of 84,730. Thomson Newspapers president and CEO Stuart Garner said the newspapers were failing to generate the benefits that company has been able to realize from other so-called marketing groups. The groups were created two and a half years ago, designed to reduce costs and protect the market share in retail advertising of Thomson. Southam is a 58.5%-owned publisher of Conrad Black's Hollinger Inc., and currently produces 32 daily newspapers in Canada, compared to Thomson's 68 dailies in the US and Canada.

Comment:

Is acquiring all the Vancouver newspapers of Thomson for an undisclosed amount

Newspapers, Newspaper Publishers, British Columbia, Newspaper publishing, Thomson Corp., Southam Inc.

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Stratos buys Teleglobe assets

Article Abstract:

Teleglobe Inc. intends to sell its stake in the Inmarsat mobile satellite service in favor of Stratos Global Corp., headquartered in Toronto, Ontario. The assets involved includes stakes in the Satellite Aircom Consortium and in the Laurentides joint venture, as well as two satellite stations. Stratos Global has also expressed plans to purchase Teleglobe's interest in the former's wireless telephone services unit, Stratos Wireless. Stratos hopes to spend up to C$82.1 million for the acquisition of the Teleglobe assets.

Comment:

To acquire Teleglobe's stake in Inmarsat mobile satellite service in favor of Stratos Global Corp

Telecommunications, Facilities & equipment, Satellite Communications, Satellite Telecommunications, Quebec, Ontario, Telecommunications industry, Teleglobe Inc., Stratos Global Corp.

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Share swap chickens could come home to roost

Article Abstract:

The rising trend by companies using stocks to finance acquisitions is discussed.

Canada, Business, Finance, Acquisitions and mergers

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