MONTRÉAL, July 16, 2020 /CNW Telbec/ - Quebecor announces that it will not participate in the nearly completed legal bidding process to rescue the Cirque du Soleil. The decision comes as Québec Superior Court prepares to hear and rule on the creditors' proposal. Quebecor held lengthy discussions with the creditors' advisors, Houlihan Lokey, until it was forced to end them by signing a non-disclosure agreement, at the request of the Cirque du Soleil.
However, Quebecor management remains eager to contribute to the Cirque's turnaround and to leverage its experience, capital and Québec identity to do so, in cooperation with the creditors. Quebecor's goal is to ensure the Cirque's survival and continued artistic success by providing it with the means to succeed financially.
About Quebecor
Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Québec-based Quebecor (TSX: QBR.A, QBR.B) employs more than 10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.
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SOURCE Quebecor
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