Belt tightening in 2013 pays off for TVA Group

By Lesley Hunter

MONTREAL – Growth in both its television and publishing division helped to drive up 2013 profits at TVA Group.For the fiscal year ended December 31, 2013, consolidated adjusted operating income was $60.6 million, up from $42.5 million in 2012, due to a 42.6% increase from the television segment ($14.5 million) and the publishing segment ($3.6 million).The Quebecor–owned communications company said its TV increases are attributable to the exclusion of Sun News’ results, which have not been consolidated since July 2012, recognition of retroactive royalties for distant signal retransmission, and the implementation of an expense reduction plan, which offset decreases in advertising...