Conventional networks' revenues plummet 7.2% in 2014: CRTC

OTTAWA–GATINEAU - Canadian local television stations saw profits plunge in 2014, according to the CRTC’s latest statistical and financial report for this sector released Monday.According to the report Conventional Television – Statistical and Financial Summaries 2010-2014, profits before interest and taxes (PBIT) for private local TV stations dropped from -$2.3 million to -$138.7 million, and the PBIT margin decreased from -0.1% to -7.7%.Revenues fell by 7.2% from $1.94 billion in 2013 to $1.8 billion for the broadcast year ended August 31, 2014. While revenues from the sale of local advertising declined 5% from $351.2 million in 2013 to $333.6 million in...