Death of Part II fees see TVA Group reborn

MONTREAL – Quebecor Media’s TVA Group today reported net income of $5.3 million in the third quarter of 2007, much improved over Q3 2006 when it recorded a net loss of $800,000. The division’s primary asset, broadcast television network TVA saw growth in operating income of $3.9 million or 103.8% in the quarter ended September 30, 2007, compared with the corresponding quarter of 2006, mainly due to the reversal of the Part II licence fees normally payable to the CRTC for the period from September 1, 2006 to September 30, 2007. The Federal Court of Canada ruled the fees an...