Sun News pulls down profits at TVA Group

MONTREAL – Startup costs associated with the Sun News Network ate into net income attributable to shareholders in the first quarter of 2011, cutting earnings to $300,000 from $700,000 a year earlier.Quebecor Media-owned TVA Group reported Tuesday that total revenues for the period ended March 31, 2011 dropped 2.3% to $107.1 million from $109.6 million in the same period in 2010. The company also lost $844,000 during the quarter compared to a $741,000 profit last year."The lower numbers for TVA Group reflect our strategy of investing in content and the launch of new specialty services to take advantage of opportunities...