TVA Group posts $7 million profit in Q2

MONTREAL – Selling its majority stake in Sun News Network helped boost Quebecor-owned TVA Group’s net profits for the second quarter to $7 million or $0.29 per share, the company announced Friday. In comparison, TVA Group’s net profit for the same quarter in 2012 was $10.2 million or $0.43 per share. On June 30, TVA Group sold a 2% interest in Sun News Network News to Sun Media Corp. (which is also a Quebecor subsidiary) for $765,000, leaving it with a 49% interest in the company. Revenues from TVA Group’s television and publishing and other businesses were $111.5 million, a...