Specialty channel sale boost profits at TVA Group

MONTREAL – Second quarter profits at Quebecor’s TVA Group almost doubled, helped by the sale of its interests in two English-language specialty channels late last year. The Montreal-based television and magazine company reported net income attributable to shareholders for the quarter ended June 30 of $23.7 million, up from $13.8 million in the same quarter of 2011. TVA said Tuesday that it realized a $12.9 million gain after selling its 51% interest in The Cave and its 50% interest in Mystery TV to Shaw Media. Its television sector's operating income dropped by more than $2 million to $17.04 million mainly...