Canadian Magazine Industry News
4 March 2015,     MONTREAL
TVA Group's acquisition of Transcontinental brands cleared
The Competition Bureau has given the TVA Group the green light to complete the acquisition of Transcontinental’s consumer magazine portfolio and related assets. The deal was announced in November. The TVA Group is now the new home to 15 publications, including Elle Québec, Canadian Living and The Hockey News.

The Bureau concluded that this transaction is unlikely to result in a substantial lessening or prevention of competition due to, among other things, the presence of effective remaining competitors in all overlapping genres of magazines and the ability of advertisers to reach the same demographics through other magazines and media.
 
In reaching this conclusion, the Bureau also considered the general decline in readership of magazines, in part attributable to the increasing importance of the Internet as an alternative for readers.

Under the Competition Act, the Bureau's mandate is to review mergers to determine whether they are likely to result in a substantial lessening or prevention of competition.

A No Action Letter confirms that the Bureau has reviewed a proposed transaction and concluded that it will not, at this time, challenge the proposed transaction before the Competition Tribunal under the merger provisions of the Competition Act.
 
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