UPDATE 2-Quebecor's Peladeau steps aside, Depatie to take helm

Thu Mar 14, 2013 12:35pm EDT
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* Peladeau to become chairman of Quebecor Media

* Fourth-quarter net income falls 89 pct on charges

* Sees 2013 capex of C$525 mln-C$600 mln

March 12 (Reuters) - Canadian media and telecommunications conglomerate Quebecor Inc said Chief Executive Pierre Karl Peladeau was stepping down and would be replaced by Robert Depatie, head of the company's Videotron cable and telecoms unit.

The change in leadership comes at a time when the company is struggling with a decline in advertising spending and waning interest in print as readers shift online.

Quebecor shares were down 5 percent at C$43.50 on the Toronto Stock Exchange on Thursday.

"Because one cannot be a part-time CEO I have decided to retire from my position and devote my time to other pursuits," Peladeau said on a conference call.

Peladeau, son of Quebecor founder Pierre Peladeau, will become the chairman of Quebecor Media Inc -- whose properties include the Toronto Sun, the Ottawa Sun and le Journal de Montreal -- and TVA Group, the company's French language TV network.

"My family and I think that the time has come for me to step away from the day-to-day operations and play a different role providing advice and leadership on strategic products vital to the future of our company," Peladeau said.   Continued...