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2014-05-31 01:49:31 UTC
It's going to be interesting to see what changes are made at Sun Media .
. . which of their journalists survive and which ones do not.
Certainly the more rabid ones - like Ezra Levant, and biased ones like
Barbara Amiel, David Frum and Rachel Marsden are not likely to be front
and centre.
But there are many others who might be . . . including Mulroney's son,
Ben.
At least we know there won't be a whole lot of separatists among the
rightwingers we have to expect will be brought back.
________________________________________________
May 29, 2014 - The Globe and Mail
Brian Mulroney to be named chairman of media and telecom giant Quebecor Inc.
Federalist former prime minister to be named chairman as company
distances itself from Pierre Karl Péladeau, a high-profile Parti
Québécois MLA
Former Prime Minister Brian Mulroney is poised to assume greater
responsibility at telecom and media giant Quebecor Inc. as the company
draws a further line between itself and its controlling shareholder,
Pierre Karl Péladeau.
Mr. Péladeau, who was elected to the Quebec legislature in April, is
considered a top candidate to take over the leadership of the Parti
Québécois, which lost power in the election. His political ambitions
have been seen as hindering Quebecor's efforts to expand its cellular
business outside Quebec. Mr. Mulroney, an ardent federalist – along with
a new vice-chair and a new CEO who have federalist leanings – is viewed
as someone who can smooth the way in Ottawa, which regulates the
cellphone industry.
The company disclosed in a corporate filing on Wednesday that Mr.
Mulroney, 75, will be named chairman of the board at Quebecor's annual
meeting next month. The filing also revealed Quebecor paid outgoing
chief executive Robert Dépatie $7.8-million after he decided to resign
for undisclosed health reasons in April.
Mr. Péladeau stepped down as chairman in March, when he announced plans
to enter politics. At the time, he said he would place his financial
interests in the company in a blind trust if elected. However, questions
have remained about his influence inside the company. He gave up the CEO
post last year and was replaced by Mr. Dépatie. A source close to the
company said Mr. Péladeau remained actively involved in the operations
despite no longer holding an executive position. This "blurred the lines
of authority" within Quebecor and contributed to Mr. Dépatie's recent
departure.
Mr. Mulroney, who is now vice-chairman of the board, is seeking to
prevent any similar meddling by Mr. Péladeau and plans to take on a more
direct role, the source said. Mr. Péladeau – through the manager of his
blind trust – would be consulted only on transactions that directly
affect his ownership stake, such as a major acquisition or sale.
Quebec businessman Pierre Laurin is set to replace Mr. Mulroney as
vice-chairman at the annual meeting on June 19. New CEO Pierre Dion –
who ran Quebecor's broadcast business TVA Group for almost a decade –
takes full control of the top executive job on Friday (Mr. Dépatie had
agreed to stay on during a transition period until May 30).
The new roles of Mr. Mulroney, Mr. Laurin and Mr. Dion could help ease
Quebecor's relations with the federal government, which has an active
interest in encouraging a viable fourth wireless carrier to compete with
national incumbents Rogers Communications Inc., BCE Inc., and Telus
Corp. Quebecor's Videotron division recently got licences for cellular
airwaves in Ontario, British Columbia and Alberta, and it has been
mulling an expansion outside Quebec if it deems the "right conditions"
are in place.
In an interview on Wednesday, current company chair Françoise Bertrand
said she felt it was time to step down. "The events of this spring led
to a lot of changes, and I didn't feel as comfortable." Asked if a
disagreement had led to her departure, she refused to comment. "I leave
with my head held high. I leave with no rancour and without regrets."
In its corporate filing, Quebecor said it paid Mr. Dépatie $7.8-million
to recognize his "outstanding contribution to the success of the
corporation." Spokesman Martin Tremblay added that the fact that he
retired for health reasons was also a factor in the payment agreement.
Mr. Dépatie, who is in his mid-50s, was granted 1.2 million stock
options last year when he was promoted to CEO and the company said those
have been cancelled due to his departure. He also has non-compete
obligations to the corporation for an undisclosed period. His total
compensation for 2013 was valued at $14.8-million, but that included
$8.8-million attributed to the options.
Richard Leblanc, associate professor of law at York University in
Toronto, an expert on corporate governance and ethics, said the payment
to Mr. Dépatie is "anomalous" because compensation is designed to create
an incentive for key executives to stay, not reward them for leaving
voluntarily.
"What it appears is they're allowing him to resign for health reasons
and they're making him whole – and that's not the point of compensation,
the point of compensation is retention," he said. "If you leave, you
leave, and you're not going to get paid."
Mr. Péladeau won a seat in the Quebec National Assembly in the riding of
St. Jérôme, outside Montreal. However, the PQ was defeated, a fate some
attributed to Mr. Péladeau reopening the debate on sovereignty.
Mr. Mulroney was a long-time mentor to Mr. Péladeau, and was said to
have been disappointed when he announced he was running for the PQ.
. . which of their journalists survive and which ones do not.
Certainly the more rabid ones - like Ezra Levant, and biased ones like
Barbara Amiel, David Frum and Rachel Marsden are not likely to be front
and centre.
But there are many others who might be . . . including Mulroney's son,
Ben.
At least we know there won't be a whole lot of separatists among the
rightwingers we have to expect will be brought back.
________________________________________________
May 29, 2014 - The Globe and Mail
Brian Mulroney to be named chairman of media and telecom giant Quebecor Inc.
Federalist former prime minister to be named chairman as company
distances itself from Pierre Karl Péladeau, a high-profile Parti
Québécois MLA
Former Prime Minister Brian Mulroney is poised to assume greater
responsibility at telecom and media giant Quebecor Inc. as the company
draws a further line between itself and its controlling shareholder,
Pierre Karl Péladeau.
Mr. Péladeau, who was elected to the Quebec legislature in April, is
considered a top candidate to take over the leadership of the Parti
Québécois, which lost power in the election. His political ambitions
have been seen as hindering Quebecor's efforts to expand its cellular
business outside Quebec. Mr. Mulroney, an ardent federalist – along with
a new vice-chair and a new CEO who have federalist leanings – is viewed
as someone who can smooth the way in Ottawa, which regulates the
cellphone industry.
The company disclosed in a corporate filing on Wednesday that Mr.
Mulroney, 75, will be named chairman of the board at Quebecor's annual
meeting next month. The filing also revealed Quebecor paid outgoing
chief executive Robert Dépatie $7.8-million after he decided to resign
for undisclosed health reasons in April.
Mr. Péladeau stepped down as chairman in March, when he announced plans
to enter politics. At the time, he said he would place his financial
interests in the company in a blind trust if elected. However, questions
have remained about his influence inside the company. He gave up the CEO
post last year and was replaced by Mr. Dépatie. A source close to the
company said Mr. Péladeau remained actively involved in the operations
despite no longer holding an executive position. This "blurred the lines
of authority" within Quebecor and contributed to Mr. Dépatie's recent
departure.
Mr. Mulroney, who is now vice-chairman of the board, is seeking to
prevent any similar meddling by Mr. Péladeau and plans to take on a more
direct role, the source said. Mr. Péladeau – through the manager of his
blind trust – would be consulted only on transactions that directly
affect his ownership stake, such as a major acquisition or sale.
Quebec businessman Pierre Laurin is set to replace Mr. Mulroney as
vice-chairman at the annual meeting on June 19. New CEO Pierre Dion –
who ran Quebecor's broadcast business TVA Group for almost a decade –
takes full control of the top executive job on Friday (Mr. Dépatie had
agreed to stay on during a transition period until May 30).
The new roles of Mr. Mulroney, Mr. Laurin and Mr. Dion could help ease
Quebecor's relations with the federal government, which has an active
interest in encouraging a viable fourth wireless carrier to compete with
national incumbents Rogers Communications Inc., BCE Inc., and Telus
Corp. Quebecor's Videotron division recently got licences for cellular
airwaves in Ontario, British Columbia and Alberta, and it has been
mulling an expansion outside Quebec if it deems the "right conditions"
are in place.
In an interview on Wednesday, current company chair Françoise Bertrand
said she felt it was time to step down. "The events of this spring led
to a lot of changes, and I didn't feel as comfortable." Asked if a
disagreement had led to her departure, she refused to comment. "I leave
with my head held high. I leave with no rancour and without regrets."
In its corporate filing, Quebecor said it paid Mr. Dépatie $7.8-million
to recognize his "outstanding contribution to the success of the
corporation." Spokesman Martin Tremblay added that the fact that he
retired for health reasons was also a factor in the payment agreement.
Mr. Dépatie, who is in his mid-50s, was granted 1.2 million stock
options last year when he was promoted to CEO and the company said those
have been cancelled due to his departure. He also has non-compete
obligations to the corporation for an undisclosed period. His total
compensation for 2013 was valued at $14.8-million, but that included
$8.8-million attributed to the options.
Richard Leblanc, associate professor of law at York University in
Toronto, an expert on corporate governance and ethics, said the payment
to Mr. Dépatie is "anomalous" because compensation is designed to create
an incentive for key executives to stay, not reward them for leaving
voluntarily.
"What it appears is they're allowing him to resign for health reasons
and they're making him whole – and that's not the point of compensation,
the point of compensation is retention," he said. "If you leave, you
leave, and you're not going to get paid."
Mr. Péladeau won a seat in the Quebec National Assembly in the riding of
St. Jérôme, outside Montreal. However, the PQ was defeated, a fate some
attributed to Mr. Péladeau reopening the debate on sovereignty.
Mr. Mulroney was a long-time mentor to Mr. Péladeau, and was said to
have been disappointed when he announced he was running for the PQ.