Growth slows to a crawl in Q3 for Quebecor

MONTREAL – Quebecor’s year-over-year revenues grew by just 1% for its third quarter ended September 30, 2009.The Quebec media giant, who consolidates the financial results of its Quebecor Media Inc. subsidiary in which it holds a 54.7% interest, reported revenues of $918.4 million, and operating income of $301.0 million, an 8.5% increase of the third quarter of 2008.Net income increased by 51.9% or $23.7 million to top $69.4 million, while adjusted income from continuing operating activities was $52.9 million, representing a 24.5% increase from $42.5 million from the same period last year."Videotron again posted a significant increase in operating income,...