Merger would counter buildup of Southam's market share

Article Abstract:

Torstar Corp.'s unsolicited bid to acquire Sun Media Corp., if successful, would offset the increasing dominance of its rival Southam Inc. in the newspaper industry in Canada. The success of the deal would allow Torstar to control 26% of the average weekly circulation of daily circulation while Southam will continue to hold 42% of the market. Torstar is offering to buy all of Sun Media's common shares for C$16 per share in cash and stock. Torstar CEO David Galloway noted the acquisition would also help the company reduce the cost in expanding into electronic media.

Comment:

Its unsolicited bid to buy Sun Media, if successful, would offset increasing dominance of Southam in Canadian newspaper industry

Asset sales & divestitures, Acquisitions & mergers, Newspapers, Newspaper Publishers, Newspaper publishing, SunMedia Corp., Torstar Corp., Article

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GTC to promote itself to investors

Article Abstract:

Printing company GTC Transcontinental Group Ltd. of Montreal, Canada, has posted a profit of C$42.1 million on revenue of C$1.34 billion for the year ended Oct. 31 1998, up by 21% and 19% from the previous year, respectively. However, the company's shares are still trading at only 13.7 times earnings, while the average earnings multiples of seven of the top printers in North America are almost 17 times.

Sales, profits & dividends, Printing & Publishing, Transcontinental Inc.

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