Quebecor's unit to manage Quebec's new stadium

Tue Mar 1, 2011 3:25pm EST
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(Reuters) - Media and communications group Quebecor Inc's unit clinched a deal to manage Quebec's upcoming sporting arena for 25 years.

Quebecor Media has made financial commitments of between C$110-C$200 million, subject to certain conditions, to win the rights, which includes naming the stadium. The amount also includes profit-sharing.

Quebecor Media said the arena is slated to open at the end of 2015.

Montreal-based Quebecor's shares were trading down about half a percent at C$34.99 on Tuesday on the Toronto Stock Exchange.

(Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila)