Glacier to Commence Normal Course Issuer Bid

Glacier Media Inc. (the "Company" or "Glacier") (TSX:GVC) announced today that
TSX has accepted a Notice of Intention to make a normal course issuer bid to
purchase up to 2,500,000 common shares (2.79% of the outstanding common shares)
from time to time during the next 12 months. 


Glacier is undertaking the bid because, in the opinion of its board of
directors, the market price of its common shares, from time to time, may not
fully reflect the underlying value of its operations and future growth
prospects. The Company believes that in such circumstances, the outstanding
common shares represent an appealing investment for Glacier since a portion of
the Company's excess cash generated on an annual basis can be invested for an
attractive risk adjusted return on capital through the bid. 


As of September 14, 2012, there were 89,511,335 common shares issued and
outstanding. The purchases may begin September 28, 2012 and will end no later
than September 27, 2013. The common shares will be purchased for cancellation
through the facilities of the TSX and other Canadian marketplaces, at market
price. Pursuant to TSX policies, daily purchases made by the Company will not
exceed 19,754 common shares (25% of the average daily trading volume of 79,017
common shares on the TSX), subject to certain prescribed exceptions.


In the past 12 months, the Company has not purchased any common shares pursuant
to its existing normal course issuer bid that expires September 27, 2012. The
Company has been focused on using free cash flow in 2012 to pay down debt
subsequent to the Postmedia acquisition completed on November 30, 2011. 


Going forward, Glacier intends to use its free cash flow to maintain debt at
manageable levels while evaluating acquisitions, share buy-backs and operating
investment opportunities within the context of expected returns and related risk
profiles, and pay dividends. The Company continues to see many attractive
acquisition and growth opportunities that fit with its business strategies. 


Shares in Glacier can be traded on the Toronto Stock Exchange under the symbol GVC. 

About Glacier

Glacier Media Inc. is an information communications company focused on expanding
across North America through both internal growth and the strategic acquisition
of information communications companies that provide essential information and
related services through print, electronic and online media in the local
newspaper, trade and business and professional information markets. 


Forward-Looking Statements

Certain statements in this press release are not historical and may constitute
forward-looking statements reflecting financial performance. Investors are
cautioned that all forward-looking statements involve risks and uncertainties.
Forward-looking statements are based on management's estimates, beliefs and
opinions on the date the statements are made. Glacier assumes no obligation to
update forward-looking statements if circumstances should change. Additional
information on these and other potential factors that could affect Glacier's
financial results are detailed in documents filed from time to time with the
applicable Canadian securities regulatory authorities.

Glacier Media (TSX:GVC)
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