Revenues up, profits down at Quebecor

MONTREAL - Quebecor Inc. saw first quarter profits dip, but revenues climb by 4.5% as it staggers under the weight of investments in its new wireless service and the Sun News Network.The Montreal-based media company said Thursday that net income attributable to shareholders was $34.3 million for the three-month period ended March 31, 2011, down 1.7% from $34.9 million in the same period last year. Revenues topped $990.5 million, up 4.5% from $948.1 million, while operating income increased by 1.3% to $294.3 million."Quebecor posted revenue and operating income growth in the first quarter of 2011 despite the impact of major investments...