Conventional TV profits plummet; margin at lowest level in three decades

OTTAWA – While operating revenues for TV broadcasting companies continue to rise, profits fell sharply last year according to Statistics Canada. Overall, revenues for the television broadcasting industry just topped $6 billion in the 2006 broadcast year, ended August 31, 2006. That's a gain of 8.2% over 2005 and was the third largest year-over-year revenue increase in the past decade. Ad revenue for the whole Canadian TV industry rose 7.6% to $3.3 billion, while subscription revenues jumped 11.3% to $1.6 billion, continues the Statscan report.However, profits before interest and taxes for private conventional television fell 62.5% from $242.7 million in...