MONTREAL – TVA Group’s net income since the start of fiscal 2006 is $10.7 million, down 37% over the first half of 2005.
"Our industry continues to be affected by market fragmentation and by a difficult advertising market," said TVA Group president and CEO Pierre Dion. "Despite this challenging situation, however, TVA Network once again enjoyed excellent audience ratings, with the BBM results showing that it posted a 27.4% market share and broadcasted 19 of the 30 most-watched shows. Our specialty channels continue to demonstrate a good progression of their operating income, despite the loss recorded by our new Prise 2 channel.
"Sun TV (its Toronto TV station) recorded a larger loss than for the same quarter a year ago because of its investments in programming, but succeeded in significantly expanding its reach by entering into a digital-distribution agreement with Rogers Communications," Dion continued. "Our publishing business returned to profitability as a result of a very strict cost control, while maintaining its market shares and the quality of our various publications. Finally, the postponement of the cinema release of certain American films and a more difficult Quebec film market combined to bring down the profitability of its distribution sector during the quarter."
TVA Group runs the TVA TV network in Quebec as well as Sun TV in Toronto, a Quebec movie distribution company and a magazine publishing arm.
"TVA continues to move forward with its multi-platform content strategy aimed at adequately meeting the constantly changing needs of its viewers and advertisers," added Dion.
Revenue for the first half of the year, ended June 30th was $194.3 million, a 3% dip from the prior year.
