Rising TVA Sports costs hits TVA Group earnings

MONTREAL — Despite a slight year-over-year increase in revenues in the first quarter of 2021, Quebecor’s TVA Group experienced a net loss in the three months ended March 31 and saw earnings drop significantly in its broadcasting segment, particularly at TVA Sports. TVA Group’s consolidated revenues for Q1 2021 were $140.8 million, representing a year-over-year increase of $3.7 million compared to Q1 2020 when it reported revenues of $137.1 million. The company’s net loss for this year’s first quarter was $4.5 million, compared with a net loss of $712,000 in the same quarter of 2020. The company’s overall adjusted EBITDA...