Publishing drags down TVA, but Cancon costs on TV side, "very worrisome"

MONTREAL – On Friday, Quebecor Media’s TVA Group reported third quarter net income was off by 66%, at $2.7 million, when compared to Q3 2004.. This decline in net income, says the company, is due mainly to “the significant reduction in income” from its magazine publishing sector, as well as to losses incurred by our new services, such as Mystere, Argent and SUN TV. (TVA Group does not include Quebecor Media’s other publishing division, Sun Media.) On the bright side, “TVA Network continues to post excellent audience ratings” but much higher content costs caused a slight drop in operating income...