Quad/Graphics Will Buy World Color for $1.3 – $1.4 Billion
Quad/Graphics announced that they might buy World Color Press Inc., formerly known as Quebecor World. This company prints magazines such as Sports Illustrated, US Weekly, Reader’s Digest, Rolling Stones, Times and Cosmopolitan. Quebecor filed for bankruptcy in January 2008, but before that, the intent was already to clear to them that the company might be bought by Quad/Graphics. The deal was set to be closed this coming summer, with the amount ranging to $1.3 to $1.4 billion. If the deal will push through, this will make Quad/Graphics the second-largest commercial printer in North America, and the rival of R.R. Donnelley & Sons.
Joel Quadracci, Quad/Graphics’s chief executive officer, will lead the new company as chairman, president and CEO. It is also speculated that the future Board will be comprised by six current Quad/Graphic directors and two World Color directors. Quadracci will lead the merged company that has 30,000 employees worldwide that can help generate $5 billion annually.
[ad#Google Adsense End of Post Square]
