Pierre-Carl Pelado said he is buying Alouettes under his own name rather than carrying out the operation through Quebecor to avoid a distraction while parent company Videotron prepares to execute a major deal.
The Quebecor big boss also expects that this big $3 billion deal — the purchase of Shaw’s wireless subsidiary, Freedom Mobile — will materialize in the “coming days,” he said Friday.
For that to happen, Ottawa must approve the merger of Rogers and Shaw and the agreed side deal between Quebecor and the two Canadian telecommunications giants through which the Quebec giant will acquire Freedom Mobile.
With Freedom, Quebecor can expand its reach in Ontario and Western Canada to become the fourth largest wireless operator in the country.
“We don’t want the Alouettes to become a distraction for our teams. [chez Québecor] This was explained by Pierre Carl Pelado on the sidelines of the press conference organized on Friday to announce his assumption of the presidency of the Montreal football team.
“It’s not a profitable business,” he said of the Alouettes. “This does not mean that we will not do it someday. Currently, it requires capital.”
The Alouettes have been losing millions for years. The Alouettes’ losses last year alone are estimated at between 6 and 8 million. Pierre-Carl Pelado suggested that it was difficult for a public company like Quebecor to bear Alouettes’ operating losses.
“It seemed clear to me that Quebec’s participation in the Alouettes was not appropriate,” said the senior president and controlling shareholder of Quebecor.
However, he indicated that Quebec would join the Alouettes. “Because Quebec can bring a lot to the Alouettes and the Alouettes can bring a lot to Quebecor,” said the 61-year-old businessman.
Therefore buying the Alouettes in his own name is, according to him, “the best solution at the moment” to be able to invest “significantly” in the football club as he indicates he intends to do.
“Things can change in life,” he was keen, though, to add, leaving room for speculation and interpretation as to the possibility of Alawat entering the fold of Quebecor.
Furthermore, Martin Tremblay, Chief Operating Officer of the Quebec Sports and Recreation Group, was closely involved in the negotiations that led to Pierre-Carl Pelado’s purchase of the Alouettes.
Quebec Media’s sports and entertainment division includes the Quebec Remparts and Plainville-Boabrian Armada, two teams of the Quebec Junior Hockey League (QMJHL), as well as the management and operation of the Videotron Center, in Quebec.
Quebecor, which is traded on the Toronto Stock Exchange, owes most of its revenue and profits to its subsidiary Videotron and owns 65% of Groupe TVA shares.
Bell Media (RDS/TSN) has been the exclusive broadcaster for the Canadian Football League since 2008. League spokesman Olivier Poulin said: Journalism That national television rights belong to Bell for four more seasons, including this year, which runs through the end of 2026. Canceling the 2020 season due to the pandemic would make it clear that the contract expires in 2026 instead of 2025, as originally planned.
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