TVA's Q3 net income cut in half

MONTREAL – Losses in its television sector helped cut TVA’s year-over-year net income nearly in half for its third quarter ended September 30, 2009.Net income was $6.4 million, down from $12 million for the corresponding quarter of 2008, which the company said was due to “significant income tax benefits” realized during the third quarter of 2008.However, the Quebecor Media subsidiary’s consolidated operating income was $10.3 million, down slightly when compared with $10.8 million during the same quarter of 2008.High operating losses at Sun TV lead to a 16% drop in the television sector's operating income over the corresponding quarter last year....