TVA's Q4 profit falls on flat ad sales

MONTREAL - Quebecor’s TVA Group reported $9.4 million in net income for the fourth quarter of 2012, a decrease of $2.1 million in the same quarter of 2011. It blamed the decrease in operating income at TVA Network due mainly to a 5.6% decline in its advertising revenues. The company’s publishing division also reported a 27% decrease in operating income from the third quarter, to $1.86 million. In contrast, operating income for TVA’s television segment increased 5.6% to $19.1 million during that period, which TVA attributes to the deconsolidation of the results of SUN News, as well as a $2.4 million...