TVA Group says shrinking ad revenues to blames for 2014 losses

MONTREAL – TVA Group ended 2014 in a sea of red ink, capped by a $4.4 million net loss attributable to shareholders in its fourth quarter.The Quebecor Media subsidiary said that consolidated adjusted operating income for the fiscal year ended December 31, 2014, fell 51.4% to $29.4 million from $60.6 million in the previous year. Consolidated operating revenues of $439.3 million were 1.2% lower than $444.8 million in 2013, while the net loss attributable to shareholders of $41.1 million was a far cry from the prior year’s $15.7 million net income attributable to shareholders.TVA Group renamed its Television segment as...