Benefits Canada, Canadian Investment Review, Les Affaires and several other business properties have been sold to Contex Group Inc., a media company headed by Pierre Marcoux, son of Transcontinental founder Remi Marcoux.Transcontinental said most of the employees in the divested businesses will be retained by the new owners but that about 20 people will have their employment let go.
Pierre Marcoux had previously run Transcontinentals Media Division TC Media. Pierre started at Transcontinental as a journalist in 2000.
Financial terms of the sales were not disclosed, but is part of Transcontinental’s ongoing shift away from publishing.