Quebecor and the Demise of Quebec Inc.
In 1989, free trade was signed between Canada and the US. Brian Mulroney was Prime Minister. Ronald Reagan was President.
Quebecor founder, the late (and great) Pierre Peladeau endeavored to seize the day. Peladeau argued that the Free Trade Agreement (FTA) was an opportunity to grow his Quebec newspaper and printing company into a Canadian leader, and then rapidly, a leader in the USA.
What followed was a series of bold national and then international acquisitions that grew the company from a Quebec $900 million in 1989 to over $12 billion by 2003. And then, the Company’s massive freefall into scandal and bankruptcy, with Pierre Karl Peladeau and Brian Mulroney at the helm.
More to come..