Falling TV ad revenues weighs down TVA

MONTREAL – While net income attributable to shareholders rose to $9.2 million in the second quarter of 2014, ended June 30th compared to $7 million in the same quarter last year for Quebecor’s television and publishing division TVA Group, TV ad sales continue their downward trend.The television segment generated operating income of $18 million, a 6% drop over last year’s Q2 due primarily to a 3.1% decline in ad revenues for the main TVA network, which is still the ratings leader in the Quebec market. Thanks to an 11.6% increase in subscription revenue, however, the operating loss at the company’s...