Quebecor Media Inc. (“Quebecor Media”) today announced the early acceptance of tendered 7¾% Senior Notes due March 15, 2016 (CUSIP 74819RAK2) (the “Notes”) in connection with its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its Notes. The Tender Offer is being made pursuant to an Offer to Purchase (the “Offer to Purchase”) dated March 26, 2014 and the related Letter of Transmittal.

The tender and information agent for the Notes under the Tender Offer has advised Quebecor Media that US$89,095,000aggregate principal amount of the Notes had been validly tendered and not withdrawn pursuant to the Tender Offer at or prior to 5:00 p.m., New York City time, on April 8, 2014(the “Early Participation Date”).  Such amount represents approximately23.45% of the aggregate principal amount outstanding of Notes.

Quebecor Media today accepted for purchase, in accordance with the terms of the Tender Offer, all Notes validly tendered and not withdrawn pursuant to the Tender Offer at or prior to the Early Participation Date, representingUS$89,095,000aggregate principal amountof Notes, at a purchase price of US$1,002.50for each US$1,000.00 principal amount of Notes accepted, plus accrued and unpaid interest to but excluding the payment date.Quebecor Media intends to settle payment for the Notes accepted for purchase by end of today.

Notes that remain outstanding may be validly tendered by holders until 12:01 a.m., New York City time, on April 24, 2014 unless extended or earlier terminated (such date and time, as the same may be extended or earlier terminated, the “Expiration Date”).Holders of Notes validly tendered after the Early Participation Date but at or prior to the Expiration Date, and accepted for purchase, will receive the applicable Tender Offer Consideration, being US$972.50 for each US$1,000.00 principal amount of Notes accepted, but not the Early Participation Amount, as specified in the Offer to Purchase. In addition, all holders of Notes accepted for purchase in the Tender Offer will also receive accrued and unpaid interest on the Notes from the last interest payment date to, but not including, the applicable payment date. 

As announced on March 26, 2014, Quebecor Media intends to redeem, on April 25, 2014, all of its Notes outstanding on April 25, 2014 at a price equal to 100.000% of such Notes, plus accrued and unpaid interest pursuant to the terms of the indenture governing the Notes.

The terms of the Tender Offer remain unchanged and are as set forth in the Offer to Purchase.  Quebecor Media anticipates that it will accept for purchase and pay for all Notes validly tendered at or prior to the Expiration Date and not validly withdrawn,or previously accepted on the date hereof,within two business days following the Expiration Date.

Noneof Quebecor Media or its board of directors, the dealer managers or the tender and information agent, or the trustee for the Notes makes any recommendation that holders tender or refrain from tendering all or any portion of the principal amount of their Notes, and no one has been authorized by us or any of them to make such a recommendation. Holders must make their own decision as to whether to tender their Notes, and, if so, the principal amount of Notes to tender.

All the Notes are held in book-entry form through the facilities of The Depository Trust Company. If you hold Notes through a broker, dealer, bank, trust company or other intermediary or nominee (an “Intermediary”), you must contact such Intermediary if you wish to tender Notes in the Tender Offer. You should check with such Intermediary to determine whether such Intermediary will charge you a fee for tendering Notes on your behalf. You should also confirm with the Intermediary the deadline by which you must provide your tender instructions, because the relevant deadline set by such Intermediary will be earlier than the deadline set forth herein.

Quebecor Media has retained BofA Merrill Lynch and Citigroup to serve as dealer managers for the Tender Offer, and Global Bondholder Services Corporation to serve as the tender and information agent for the Tender Offer.

For additional information regarding the terms of the Tender Offer, please contact BofA Merrill Lynch at (888) 292-0070 (toll free) or (980) 388-3646 (collect), or Citigroup at (800) 558-3745 (U.S. toll free) or (212) 723-6106 (collect).  Requests for a copy of the Offer to Purchase and the Letter of Transmittal relating to the Notes, and questions regarding the tender of the Notes may be directed to Global Bondholder Services Corporation at (866) 470-4200 (toll free) or (212) 430-3774 (collect).

This announcement does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell securities in any jurisdiction, or in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer was deemed to be made by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction. The securities mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws.