Conventional networks' profits plummet 85% in 2012

OTTAWA and GATINEAU – Profits for conventional television stations fell by 85% in 2012, according to the CRTC’s latest statistical and financial report for this sector released Thursday. The Commission said profits before interest and taxes (PBIT) for private TV stations declined from $151.6 million to $22.9 million in 2012. Revenues dropped by 5% from $2.14 billion in 2011 to $2.04 billion in 2012. While local advertising sales remained relatively stable at $354.6 million, down just 0.2% from the previous year, national advertising revenues decreased 7.5% from $1.47 billion in 2011 to $1.35 billion in 2012. In contrast, expenses in that...