Printer/communications firm Quebecor Inc. has announced a sale totaling about $72 million for its subsidiary TQS Inc. to a group consisting of Bell Global Media Inc. and Cogeco Inc.
TQS operates a general-interest French-language television network in Quebec, publishes books and magazines and also manages a large chain of music stores in eastern Canada.
Quebecor, which owns shares in various markets including newspaper publishing, has sought to unload the television network for almost a year.
"We are proud to have been a part of the recovery of TQS," said Pierre Karl Peladeau, president/CEO at the firm. "Under Quebecor management, TQS reached the break-even point for the first time in its history."