US Weekly Awards Substantial New Volume to Quebecor World...
posted on Nov 19, 2008 05:37AM
Edit this title from the Fast Facts Section
Quebecor World Inc.
MONTREAL, CANADA--(Marketwire - Nov. 19, 2008) - Quebecor World Inc. (TSX:IQW) today announced it has been awarded substantial new print volume from US Weekly. The weekly celebrity and entertainment title published by Wenner Media has been a leader in circulation and ad page growth since it was re-launched as a weekly in 2000. Under an expanded print agreement, Quebecor World increases its US Weekly volume almost 20 percent and will now produce a major portion of US Weekly's copies.
Earlier this year, Quebecor World had signed a multi-year agreement with Wenner Media to print Rolling Stone, US Weekly and Men's Journal. Quebecor World is the exclusive printer for Rolling Stone and Men's Journal, and has been increasing its share of US Weekly production. Most of Quebecor World's increased US Weekly volume will be produced at its Dallas facility.
"We are very pleased to further expand our service relationship with Wenner Media," said Kevin J. Clarke, President of Quebecor World's Publishing Services Group. "We are the industry leader in weekly magazine production and distribution coast-to-coast and the new US Weekly volume will strengthen our position in the South and Southwest weekly regional production markets."
Quebecor World's Publishing Services Group is one of the leading magazine, book and directory printing and related services providers in the United States.
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 "Risk Factors" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2007 and the "Risk Factors" section of the Company's Annual Information Form for the year ended December 31, 2007.
The forward-looking statements in this press release reflect the Company's expectations as of November 19, 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.
The Company is currently subject to Court protection under the Companies' Creditors Arrangement Act in Canada ('CCAA'), and various U.S. subsidiaries have filed petitions under Chapter 11 of the U.S. Bankruptcy Code ('Chapter 11').
In light of the CCAA and Chapter 11 Proceedings, it is unlikely that the Company's existing Multiple Voting Shares, Redeemable First Preferred Shares and Subordinate Voting Shares will have any material value following the approval of a final plan of arrangement.
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 23,000 employees working in approximately 100 printing and related facilities in the United States, Canada, Argentina, Brazil, Chile, Colombia, India, Mexico, and Peru.
Web address: www.quebecorworld.com
For more information, please contactQuebecor World Inc.