Transcontinental’s ex-employees hope to revive local papers
MONTREAL—As Transcontinental sells off its weekly newspaper portfolio, many of its former employees are jumping at the chance to get into the publishing business by snapping up the publications.
And they are hoping to succeed where the media and publishing firm had encountered difficulties in recent years: by re-establishing its place within local communities.
“The decline (of income) we experienced was because we forgot that the news had to be local,” said Dave Beaunoyer, a former regional executive with Transcontinental who heads a group that took over French newsmagazine L’Express in August.
Transcontinental put its 93 newspapers in Quebec and Ontario up for sale in April.