Black Press challenges Quebecor’s Osprey bid

(From Osprey Media said it received a takeover bid of about $404 million from Black Press Ltd., topping a May 31 offer from Quebecor Media Inc. Osprey is giving Quebecor until July 5 to make an amended offer or they will pay the $15 million termination fee to cancel the deal. Black Press, based in Victoria, British Columbia, owns 150 community papers and 15 regional press operations.