March 2, 2015 — OTTAWA, ON — Competition Bureau
The Competition Bureau has issued a No Action Letter, which clears the way for TVA Group’s proposed acquisition of Transcontinental’s consumer magazine portfolio and various related assets.
The Bureau concluded that this transaction is unlikely to result in a substantial lessening or prevention of competition due to, among other things, the presence of effective remaining competitors in all overlapping genres of magazines and the ability of advertisers to reach the same demographics through other magazines and media.
In reaching this conclusion, the Bureau also considered the general decline in readership of magazines, in part attributable to the increasing importance of the Internet as an alternative for readers.
Under the Competition Act, the Bureau’s mandate is to review mergers to determine whether they are likely to result in a substantial lessening or prevention of competition.
A No Action Letter confirms that the Bureau has reviewed a proposed transaction and concluded that it will not, at this time, challenge the proposed transaction before the Competition Tribunal under the merger provisions of the Competition Act.
- The brands involved in this transaction include, among others, Coup de pouce; Elle Québec; Décormag; Le Bel Âge; Véro Magazine; recettes.qc.ca; Canadian Living; Style at Home; Elle Canada; Good Times; and The Hockey News.
- TVA Group is an integrated communications company engaged in the creation, production and distribution of audiovisual products, and in magazine publishing.
- As part of its normal approach in examining a merger, the Bureau consults with a wide range of industry participants, such as suppliers, competitors and customers.
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