Quebecor Media to cut 240 jobs as TVA Group reports year-end losses

By Connie Thiessen Quebecor Media has announced it’s cutting 240 jobs, including 140 positions across TVA Group’s broadcasting, publishing and film production divisions. The restructuring was announced Thursday as Montreal-headquartered TVA Group reported its fiscal 2022 year-end results showing a drop in revenue across all of its business segments. The corporation’s consolidated adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $19,385,000, compared to $80,283,000 the previous year. Consolidated revenues were down 4.6% overall with the corporation recording a net loss of $0.21 per share, compared to earnings per share of $0.71 for 2021. Q4 revenues of $171.9 million marked a slight year-over-year increase of $23,000. “Fourth quarter...