Quebec's oldest weekly paper, Le Canada Fran�ais, 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 Fran�ais, 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
Source: http://www.guardian.co.uk/media/greenslade/2011/aug/02/newspapers-canada
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