Transcontinental to sell Ontario, Quebec papers

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MONTREAL – Transcontinental has put its newspapers in Quebec and Ontario up for sale, days after selling its holdings in Atlantic Canada.

The Montreal-based media and publishing company (TSX:TCL.A) says the sale process is expected to last several months and involves 93 local and regional publications as well as their related websites.

Transcontinental says today’s move does not include its specialty business, financial and construction publications, education book publishing and distribution activities.

The announcement is the latest sign of Transcontinental’s migration away from the newspaper business.

Last week, it announced it was selling 27 newspapers in Atlantic Canada to SaltWire Network and last year, it sold off its media assets in Saskatchewan.

If a sale of its Ontario and Quebec newspapers proceeds, Transcontinental says it wants to continue printing and distributing those papers and would remain publisher of any publications that aren’t sold.