TVA profits take a hit thanks to lower sales, specialty launches

MONTREAL - Quebecor’s TVA Group announced Wednesday it recorded across the board declines due to softer ad sales at flagship broadcaster TVA and increases in costs from the launch of three new specialty channels. The company saw a $10,323,000 (103.1%) decrease in the Television sector's operating income compared with the same quarter of the previous year, mainly because of: a 49.2% decrease in TVA Network's operating income due to the combined effect of a 3.3% decrease in operating revenues and an 8.5% increase in operating expenses, including a 7.5% rise in content costs; the operating loss of the new SUN...