MONTREAL – Media magnate Pierre Karl Péladeau on Monday demanded a board shakeup and a strategic overhaul at Transat A.T. Inc. — as well as a seat at the table — as the billionaire once again sought to gain purchase at the struggling travel company.

Péladeau, Transat’s second-largest shareholder and the CEO of Quebecor Inc., said the board should be reduced to six directors — with him among three new members — from 11 currently. The two other fresh nominees are pollster and economist Jean-Marc Léger and Quebecor vice-chair André Brosseau.

In a release, Péladeau further asked for Transat, which owns Air Transat, to restructure its “broken” balance sheet and launch a strategic review that puts senior management in its sights.

“These actions are necessary to demonstrate the board’s commitm

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