Cable & Telecom

MTS loses $87 million in Q4, says pension lawsuit and failed Allstream sale were major factors

WINNIPEG – MTS Inc. ended its final quarter of 2013 with a net loss of more than $87 million, which the company attributes to accounting charges it incurred related to the failed sale of its Allstream business division, as well as a recent Supreme Court decision involving one of its pension funds.Consolidated revenue for MTS in 2013 was at $1.634 billion, down from $1.704 for FY2012. The company reported EBITDA of $551.3 million, down $33.9 million or 5.8% from 2012, noting that the decrease reflected the negative impact of $35.2 million in accounting costs associated with the proposed sale of Allstream.Fourth-quarter consolidated...
 

Our industry and COVID-19

We've gathered a number of links where Canadian cable, radio, television, telecom and wireless companies have posted their responses to the Covid-19 pandemic.