Three newspapers of the Group capital cities Media (GCM) have become the tenants of the building of their place of business, but pursue their activities normally in the existing buildings.
GCM has recently conducted the sale of buildings housing the activities of the newspaper La Tribune in Sherbrooke, La Voix de l’est in Granby and The Daily newspaper in Saguenay, confirms Martin Cauchon, the owner of the network of quebec newspapers, which also includes The Sun in Quebec city, Le Nouvelliste in Trois-Rivières and The Law in Ottawa/Gatineau.
The sale was concluded before the Holidays with the Group Mach, a major owner of office buildings in Quebec.
The will of GCM to divest itself of its buildings to become tenants had been known for some time. “It was in our business model,” says Mr. Cauchon.
“We are not property managers. The money from the sale will be invested in the development of the quality information on our different platforms.”
Specifically, the transaction does not trigger any change, as much for employees as for the customers of these newspapers. The places of business of the three daily newspapers remaining the same, adds Martin Cauchon.
The Tribune, the Voice of The Is and The Newspaper were the only GCM to be still the owner of the buildings of the housing. The Novelist became a tenant a few years ago. The Group Mach already operates the building in which houses The Sun, in the neighbourhood of the Nouvo Saint-Roch in Quebec city.
“It was a sale and it was re-rented immediately,” he notes.
“The Group Mach, manage buildings, it is their specialty. It has a lot of square feet in Quebec. ”
The Tribune occupies the current building on Roy street, since 1976. The building of The Voice of the East is located on rue Dufferin in Granby since 1988. Finally, since 1981, The Daily to provide the latest news the region of Saguenay/Lac-Saint-Jean from its premises located on Talbot boulevard.