Groupe V Média, the owner of French-language television network V, has bought specialty channels MusiquePlus and MusiMax from Bell Media Inc for an undisclosed amount. The Québec entertainment company was supported in the transaction by the Caisse de dépôt et placement du Québec, Fonds de solidarité des travailleurs du Québec FTQ and Investissement Québec, which invested $30 million to re-launch MusiquePlus and MusiMax and to expand Groupe V Média. With the joint investment, the three investors have become shareholders in the new multichannel broadcasting business.
Groupe V Média acquires MusiquePlus and MusiMax and announces the arrival of new financial partners
MONTRÉAL, Sept. 16, 2014 /CNW Telbec/ – Groupe V Média is proud to announce that the acquisition of specialty channels MusiquePlus and MusiMax from Bell Media has been finalized and that new financial partners have been brought on board.
On September 11, the Canadian Radio-television and Telecommunications Commission (CRTC) approved the transaction based around Groupe V Média’s acquisition of MusiquePlus and MusiMax, thus concluding its agreement with Bell Media. This past December, Groupe V Média had announced its intention to acquire the two specialty channels, then held by Bell Media Inc.
“We are proud to welcome specialty channels MusiquePlus and MusiMax to Groupe V Média. These two acquisitions are a perfect complement to our ongoing activities and will allow us to increase our presence on Québec’s television landscape”, said Mr. Maxime Rémillard, President and CEO of Groupe V Média. “These acquisitions are a testament to our desire to create an ecosystem of generational, multiplatform networks targeting a young and active audience province-wide.”
New financial partners
At the same time, Groupe V Média announced the arrival of new financial partners. The Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ and Investissement Québec will become shareholders in the company. Groupe V Média will still be controlled by Maxime Rémillard, who will remain President and CEO.
“The arrival of partners in Groupe V Média’s capital stock is excellent news, because it provides the company with $30 million in additional capital to re-launch MusiquePlus and MusiMax and to expand Groupe V Média”, added Mr. Rémillard. “This acquisition fits perfectly within our growth plan, which aims to intensify our investment in high-quality multiplatform content.”
“With this investment in Groupe V Média, the Caisse is contributing to the growth plan of a major Québec broadcaster,” said Christian Dubé, Executive Vice-President, Québec of the Caisse de dépôt et de placement du Québec. “The acquisition of specialty channels, combined with management’s ability to foster and manage assets in the media industry, will enable Groupe V Média to strengthen its positioning and presence in the French-language television market.”
“This transaction brings together three Québec television networks, thus guaranteeing them a solid foundation for the future”, said Janie Béïque, Senior Vice-President, Industries, Entertainment and Consumer Goods at the Fonds de solidarité FTQ. “The Fonds investment in Groupe V Média will ensure that MusiquePlus and MusiMax’s ownership remain in Québec and is in line with the Fonds’ long-standing support of Québec culture. As evidenced by a number of current partnerships, this sector is very important to the Fonds.”
“This new partnership between Groupe V Média and Investissement Québec is the result of close cooperation among Québec’s economic players in allowing the birth of a major corporate headquarters in Québec in the telecommunications sector, which occupies a key position in our economy and helps promote Québec around the world”, said Yves Lafrance, Interim President and CEO of Investissement Québec. “The Government is proud of this collaboration and through its investment, is contributing to the growth of a dynamic company in a rapidly changing sector.”
By means of this acquisition and the arrival of new financial partners, Groupe V Média is seizing an opportunity in a period of great change within the industry, and is pursuing its mission to become Canada’s largest independent broadcaster by investing in high-quality, accessible and real-time content.
About Groupe V Média
Groupe V Média is a Québec-based company that has been working in the entertainment industry for five years. Groupe V Média owns V, a French-language television network built around entertainment in its purest form, and MusiquePlus and MusiMax, two newly acquired specialty channels.
SOURCE Groupe V Média
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