Quebecor World Announces New Multi-Year Agreement and Increased Volume With Wenner Media
Market Wire, April, 2008
Quebecor World Inc. (TSX: IQW) today announced it has reached a new multi-year agreement with Wenner Media to print its three magazine titles-Rolling Stone, US Weekly and Men's Journal. Under the new agreement Quebecor World will increase its volume with Wenner Media by approximately 10% as the exclusive printer for Rolling Stone and Men's Journal and will print more than one million copies of US Weekly each week. Wenner's annual print volume with Quebecor World could exceed 100 million copies.
"We are pleased under the new agreement to continue printing 100% of Rolling Stone's requirements and a major portion of US Weekly's production," said Doron Grosman, President of Quebecor World's Magazine Division. "But we are particularly pleased to add Men's Journal as new work and be granted the privilege by Wenner to print the major portion of their impressive magazine portfolio."
Quebecor World is also pleased to provide additional value-added logistics services including access to its industry-leading co-mail platform that will allow Wenner Media to improve delivery to its readers and reduce postal costs.
Rolling Stone is the leading voice of music and popular culture and is read by up to 14 million readers every two weeks. US Weekly was re-launched as a weekly in 2000 and the celebrity and entertainment title quickly became an industry leader in circulation and ad page growth. Men's Journal is a leading monthly men's lifestyle magazine that consistently ranks at the top of its category for readership and advertising.
"Quebecor World has been a valued supplier to Wenner Media as a long-time printer of Rolling Stone and US Weekly," said John Gruber, Wenner's Chief Financial Officer. "We look forward to this extended and expanded relationship that will now include Men's Journal."
Quebecor World's magazine division is one of the leading magazine print and related service providers in the United States. The company provides complete premedia, print, distribution and mailing services for publishers in the consumer, B2B, association, city and regional magazine markets.
Forward looking statements
This press release may include "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of Quebecor World Inc. (the "Company"), may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulations. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Forward-looking statements do not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made have on the Company's business. For example, they do not include the effect of dispositions, acquisitions, other business transactions, asset writedowns or other charges announced or occurring after forward-looking statements are made.
Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available at www.sedar.com , www.sec.gov and www.quebecorworld.com . In particular, further details and descriptions of these and other factors are disclosed in the "Risks and Uncertainties related to the Company's business" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2006, and the "Risk Factors" section of the Company's Annual Information Form for the year ended December 31, 2006.
The forward-looking statements in this press release reflect the Company's expectations as of April 7, 2008 and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.
Quebecor World Inc. is currently subject to Court protection under the Companies' Creditors Arrangement Act (Canada), and various U.S. subsidiaries have filed petitions under Chapter 11 of the U.S. Bankruptcy Code.
About Quebecor World
Quebecor World Inc. (TSX: IQW) is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The Company is a market leader in most of its major product categories, which include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies and other value-added services. Quebecor World has approximately 28,000 employees working in more than 115 printing and related facilities in the United States, Canada, Argentina, Austria, Belgium, Brazil, Chile, Colombia, Finland, France, India, Mexico, Peru, Spain, Sweden, and Switzerland.
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