Declining news media revenues continue at Quebecor in Q2; posts $45.1 million loss

quarter reported increases in its telecommunications revenue that were offset by declines in its news media and interactive technologies divisions. The net loss attributable to shareholders was $45.1 million (or $0.73 per basic share), compared to a $65.5 million net profit in the same quarter a year earlier. While declining news media revenues were a contributing factor, Quebecor said the loss was mainly due to $130-million non-cash writedown of the valuation of financial instruments. Overall revenues were at $1.09 billion, an increase of $8.6 million (0.8%) over Q2 2012. Quebecor’s telecommunications business reported revenues of $30.8 million, a 4.8% increase...