TQS files for bankruptcy protection; says CBC, CRTC, market conditions, are to blame

MONTREAL – Seems as though in the burgeoning new media world, holding a broadcast license is less of “a license to print money.” Quebec broadcaster TQS today said it has “obtained an order by Québec Superior Court under the Companies’ Creditors Arrangement Act with a view to protecting TQS and its subsidiaries from claims by creditors and allow it to reorganize its operations,” in the official press release. In other words, TQS – a broadcaster 60%-owned by Cogeco Inc, and 40% by CTVglobemedia, is now under bankruptcy protection. Issued for a period of 30 days, the order also applies to...