Quebec's oldest weekly paper, Le Canada Français, is one of stable of 12 titles that have been acquired by the expansionist Montreal-based publisher Transcontinental Inc.
By owning well-known community papers, the company is hoping to gain a foothold in local markets that will help it not only sell print advertising, but also increase brand recognition for its digital businesses.
Le Canada Français, founded in 1860, has the second-highest paid circulation of any weekly paper in Quebec.
The acquisition comes at a challenging time for Transcontinental's media business. Its operating income dropped in the first half of this year to $22.3m (£14.3m) compared to $33.3m (£21.4m) in the first half of 2010.
Canadian media companies - in company with their counterparts in the US and Britain - have been struggling with a depressed local print advertising market.
Source: Globe & Mail
