PAX Global Media (PGM, LogiMonde Media Inc.) has acquired the assets of Voyager Magazine Inc. and all of its subsidiaries, including Tourisme Plus, Flash Voyages and Voyager Magazine, among others, following the cessation of its activities last January. This development consolidates PGM's status as a leader in the travel trade industry, not only in Quebec, but also across Canada.
The transaction (the amount of which was not disclosed) materialized this morning.
"I would never have thought that one day I'd acquire Tourisme Plus," said Uguette Chiasson, president and CEO of PGM. "The closure of the publication has taken everyone by surprise, myself included. I'm very proud of this acquisition because it was one of the first magazines dedicated to the travel industry to see the light of day."
PGM is now the most important travel industry media company in Canada and the only one with true origins in Quebec.
The future of Tourisme Plus
PGM has already hired Serge Abel-Normandin, former editor-in-chief of Tourisme Plus.
This acquisition is part of PGM's annual business development plan, which aims to expand the scope of its products through, among other things, strategic acquisitions. This is one of the first milestones with broad ramifications for PGM, since the company already has a dozen ancillary products that will be potentially enhanced by the arrival of Tourisme Plus' existing products.
"I'm going to meet with my team to study the data we now have access to and take action accordingly. The products affiliated with Voyager Magazine inc. deserve a solid and dedicated business plan," Chiasson said. "We have already discussed several great ideas."
This business transaction takes on a special meaning for Chiasson as she's very familiar with the faces who created Tourisme Plus and its affiliated products many years ago.
"I was the one who launched and sold the directory of suppliers to Michel Villeneuve 20 years ago," Chiasson explained. "It's almost unreal! Not to mention the fact that the company was launched by a friend dear to my heart, Nicole Labonté. I hope she is proud of this development," she concluded.
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