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Hsbc Bk. 21 | LSE:11PT | London | Medium Term Loan |
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RNS Number:0860N Thomson Corporation 14 November 2001 ( BW)(THOMSON)(TOC.TO) Thomson Agrees to Sell the Winnipeg Free Press And Brandon Sun to Canadian Newspapers Company; Concludes Sale of Newspaper Operations Business Editors TORONTO--(BUSINESS WIRE)--Nov. 13, 2001--The Thomson Corporation (TSE:TOC) today announced it has entered into an agreement to sell the Winnipeg Free Press and the Brandon Sun, as well as their ancillary operations, to Canadian Newspapers Company for an undisclosed amount. The parties expect the sale to be completed in early December of this year. The Winnipeg Free Press newspaper publishes seven days a week, serving Winnipeg and Southern Manitoba with an average seven-day circulation of 126,324. The Brandon Sun also publishes seven days a week, serving the region with an average circulation of 15,389. "For well over one hundred years, both the Winnipeg Free Press and Brandon Sun have served as Manitoba's most trusted news sources," said Richard J. Harrington, president and chief executive officer of The Thomson Corporation. "I am confident that Ron Stern and his organization are committed to upholding this century-long tradition of journalistic excellence and continue to serve the needs of the Province's readers and advertisers." Ron Stern, president and chief executive officer of Canadian Newspapers Company said, "I am delighted to have concluded negotiations to buy the Winnipeg Free Press and the Brandon Sun. My partner, Bob Silver, our colleagues and I, look forward to working with the newspapers' management and employees. We are excited at the prospects that lie ahead of us. We are also conscious of the responsibilities associated with the ownership of these two important newspapers." This transaction concludes the sale of all Thomson newspaper assets, as originally announced on February 15, 2000. About The Thomson Corporation The Thomson Corporation (www.thomson.com), with 2000 revenues of approximately US$6 billion, is a leading, global provider of integrated information solutions to business and professional customers. The Corporation's common shares are listed on the Toronto and London stock exchanges. About Canadian Newspapers Company Canadian Newspapers Company is a new entity, which has been established to make this investment. Bob Silver and Ron Stern are shareholders in Winnipeg-based Western Glove Works, one of Canada's largest makers of jeans and casual wear. Among Ron Stern's other activities, he is CEO and an investor in each of Alberta Newsprint Company in Whitecourt, Alberta, and St. Marys Paper Ltd. in Sault Ste. Marie, Ontario. Mr. Stern is chairman of Vancouver's largest pre-press company, Supreme Graphics Ltd. and was previously the publisher of Vancouver Magazine. --30--rm/ny* mwa/in CONTACT: The Thomson Corporation Media Contact: Jason Stewart Director, Public Relations 203/328-8339 jason.stewart@thomson.com Investor Contact: John Kechejian Vice President, Investor Relations 203/328-9470 john.kechejian@thomson.com or Canadian Newspapers Company Media Contact: Elli Kim 604/646-3781 direct
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