Quebecor Going To Courtroom To Combat Monetary Help For Media Competitor

MONTREAL — Quebecor Inc. desires the courts to strike down a provincial authorities decree that offers $10 million in repayable monetary help to a different media group.

The media conglomerate has filed a movement in Quebec Superior Courtroom to have the federal government transfer declared null and void.

Quebecor CEO Pierre Karl Peladeau says the cash earmarked for Groupe Capitales Medias reveals what he calls “blatant favouritism” on behalf of the federal government.

Groupe Capitales Medias owns Quebec Le Soleil, Trois-Rivieres Le Nouvelliste, Ottawa Le Droit, Saguenay Le Quotidien, Granby La Voix de l’Est and Sherbrooke La Tribune.

“At a time when print media are going through each a monetary disaster and a disaster of confidence, each effort have to be made to make sure that authorities assist for the media serves to strengthen public confidence within the press, to not undermine it,” Peladeau mentioned in a press release.

“The help granted to Groupe Capitales Medias misses the mark by each measure.”

Quebec Economic system Minister Dominique Anglade defended the federal government’s determination final December, saying it was business-driven and was an funding in a Quebec “firm” versus a Quebec “media group.”

She mentioned 400 jobs had been in danger.

Quebecor holds an 81.53 per cent stake in Quebecor Media, whose pursuits embody its flagship Le Journal de Montreal in addition to Le Journal de Quebec.

Corporations on this story: (TSX:QBR.B)

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