Transcontinental Media, the second-largest publisher of community newspapers in Canada announced the purchase of Avid Media Inc., a publisher of magazines such as Canadian Gardening, Canadian Home and Country, Canadian Workshop and Outdoor Canada. The magazines have a combined monthly circulation of over 465,000.
Although no figures were released, the Toronto Star reported that Transcontinental paid an estimated $12 million for Avid Media.
This acquisition increases TranscontinentalÔÇÖs share of advertising in consumer-based magazines from 26 to 29 percent.
Transcontinental is the number one publisher of consumer magazines in Canada and one of the ten largest commercial printers in North America. It is the only publisher that has operations in every province in Canada.
More information can be found at the Transcontinental website:
http://www.transcontinental-gtc.com/en/fs01/p01000_040623.html