TVA Group, a subsidiary of Quebecor Media, announced that it has closed the acquisition of the assets of Vision Globale after obtaining Competition Bureau consent for the transaction.

Vision Globale has distinguished itself in the film and television industry with its soundstage and equipment leasing services and film and television post-production services. The acquired assets include the movie and television studios Mel's in Montreal and Melrose in Saint-Hubert, facilities that are used for both local and foreign film and television production, including American blockbusters.

"This acquisition is consistent with our strategy of investing in growth segments that will enable us to diversify our revenue streams, which are heavily dependent on the advertising carried by our over-the-air television network. I am confident that our acquisition of Vision Globale's assets will contribute to our goal of creating shareholder value," said Julie Tremblay, President and CEO of Media Group and TVA Group. "We are very pleased to welcome Vision Globale's managers and approximately 500 employees to TVA Group."