CANOE, meet NetGraphe

Pierre Karl Peledeau's foray into convergence occured just as the markets peaked, and the move has left Quebecor $7 billion in debt. While the printing operations are in the black, the new media divison is $1.5 billion in the red, leaving Quebecor struggling to make payments. And on the heels of merging NetGraphe with CANOE in a bizarre reverse-IPO, the company's top brass are paying the Toronto troops a visit tomorrow.