Broadcasters' profits plummeted in 2008; call for sub fee resumes

GATINEAU – While Canadian private broadcasters are increasingly spending big on American programming, their profitability took a huge hit in the 2008 broadcast year, ended August 31st, CRTC numbers show. When compared with 2007, revenues for private conventional television stations decreased by 1.5% last year while expenses increased by 4%. This resulted in profits before interest and taxes (PBIT) of just $8 million, well off the $112.9 million reported in 2007. In 2008, private broadcasters generated $2.1 billion in total revenue, with $387.3 million from local advertising remained – about the same level as last year. National advertising sales, however,...