GVC Glacier Media Inc

Glacier Media Inc. (TSX: GVC) is pleased to announce that, through one of its affiliates, it has entered into a definitive agreement with Rogers Publishing Limited to acquire a portfolio of media assets from Rogers' business and professional publishing group. The assets comprise 15 trade publications and digital brands, together with their associated readership database, events and web presence. Properties acquired include established and leading publications such as Food in Canada, Le Bulletin des agriculteurs, Canadian Packaging, HPAC and Meetings & Incentive Travel (including Incentiveworks, Canada's largest trade show for the meetings, incentive travel and promotions industry).

The assets will integrate into Glacier's Business Information Group, a leading operator of Canadian trade publications and industry-focused web sites, and Glacier's Farm Business Communications.

The acquisition allows Glacier to:

--  Expand the company's growing print and digital footprint in the Canadian
    agriculture and food media industry;
--  Further leverage the operating platform of the Business Information
    Group (e.g. fulfillment systems, production services, web technologies);
--  Utilize acquired technologies to accelerate the online capabilities and
    reach of the Business Information Group's directory products, especially
    Scott's Directories.

The transaction is expected to close on May 27, 2011.

About the Company: Glacier Media Inc. is an information communications company focused on the provision of primary and essential information and related services through print, electronic and online media. Glacier Media Inc. is pursuing this strategy through its core businesses: the local newspaper, trade information and business and professional information markets.

Forward Looking Statements

This news release contains forward-looking statements that relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates. These forward-looking statements include statements relating to the anticipated completion of the acquisition. These forward looking statements are subject to risks, uncertainties and other factors which may cause results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, and undue reliance should not be placed on such statements.

Important factors that could cause actual results to differ materially from these expectations are listed in the Company's Annual Information Form under the heading "Risk Factors" and in the Company's MD&A under the heading "Business Environment and Risks", many of which are out of the Company's control. These factors include, but are not limited to, closing risks and risks relating to the integration of new businesses.

The forward-looking statements made in this news release relate only to events or information as of the date on which the statements are made. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contacts: Glacier Media Inc. Orest Smysnuik Chief Financial Officer 604-708-3264