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Written by / Agency / Source: SaskTel (Saskatchewan Telecommunications)

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SaskTel Completes Divestiture of DirectWest Canada with Sale of Winnipeg Assets - SaskTel today announced it has reached an agreement with Lester Communications, Inc. to sell the Winnipeg assets of DirectWest Canada, a SaskTel company, for $31,732.28. There will be no job losses in Saskatchewan as a result of this agreement
SaskTel Completes Divestiture of DirectWest Canada with Sale of Winnipeg Assets

 

NewswireToday - /newswire/ - Regina, Saskatchewan, Canada, 2009/11/06 - SaskTel today announced it has reached an agreement with Lester Communications, Inc. to sell the Winnipeg assets of DirectWest Canada, a SaskTel company, for $31,732.28. There will be no job losses in Saskatchewan as a result of this agreement.

   
 
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Lester Communications is a leading publishing company with offices in Winnipeg and New York. Lester's venture into Manitoba’s competitive business directory services complements their expertise in advertising and publishing.

The sale of the Winnipeg assets, along with the previously announced sale of EZ Finder Phonebooks in Alberta to Canpages Inc, completes SaskTel’s divestiture of DirectWest Canada. Total cash losses are approximately $8.2 million.

“Our core Saskatchewan market continues to experience significant growth,” said Robert Watson, SaskTel President and CEO. “DirectWest will remain a profitable subsidiary of SaskTel within Saskatchewan and will continue to produce SaskTel’s high quality directories in the province.”

About SaskTel
Saskatchewan Telecommunications Holding Corporation (SaskTel) is the leading full service communications provider in Saskatchewan, with $1.14 billion in annual revenue and over 1.3 million customer connections including over 510,000 wireless accesses, 555,000 wireline network accesses, 216,000 internet accesses and 76,000 Max™ (TV) subscribers. SaskTel (sasktel.com) offers a wide range of communications products and services including competitive voice, data, internet, entertainment, national security, messaging, cellular, wireless data and directory services. In addition, SaskTel International offers software solutions and project consulting in countries around the world. In 2008, SaskTel contributed over $610 million to the Saskatchewan economy through dollars spent with Saskatchewan-based suppliers and sponsorships to non-profit organizations. SaskTel and its wholly-owned subsidiaries have a workforce of approximately 5,000 employees.

About Lester Communications, Inc.
Lester Communications, Inc. (lesterpublications.com) is a leading publisher of association magazines and directories throughout North America. Its head office is based in Winnipeg, Man. Lester provides its clients with a wide variety of services, including publication management, editorial and design management, lists and data services, and our recent expansion to providing a wide range of online components including online directories, buyers’ guides and magazines.

[2009-11-05 - Content made possible by PRZOOM indexing services]

 
 
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Written by / Agency / Source: SaskTel (Saskatchewan Telecommunications)

 
 

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SaskTel Completes Divestiture of DirectWest Canada with Sale of Winnipeg Assets

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SaskTel News |
Publisher Contact: Darcee MacFarlane - SaskTel.com 
306-777-4441 darcee.macfarlane[.]sasktel.sk.ca
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any SaskTel (Saskatchewan Telecommunications) securities in any jurisdiction including any other companies listed or named in this release.

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