Economy, ad market bog down Q4 results at TVA

MONTREAL – TVA blamed its modest fourth quarter growth on the economy and the continuing sluggish advertising market.“While we are posting positive results, the potential for future growth in advertising revenues, which still account for close to 75% of the Television sector's revenues, is severely limited in view of the economic environment and current market trends”, said president and CEO Pierre Dion, in the statement announcing the company’s financial results.TVA reported that its consolidated operating income increased by 43.8% to $32.2 million, compared with $22.4 million in the same quarter of 2008. For the fiscal year ended December 31, 2009,...