UPDATE: Cogeco radio ratings take off, but TQS hit hard by Radio-Canada popularity

MONTREAL – While Cogeco Inc.’s radio division is turning around, drawing larger audiences, the performance of the company’s television division, TQS, “obliges us to evaluate our forecasts for the media sector downwards for the 2006 fiscal year," Louis Audet, president and CEO of Cogeco, said today in presenting his company’s third quarter results. Operating margins on the media side plummeted from 20.5% in the third quarter of 2004 to 14.3% in Q3 2005. While the company’s large cable division routinely draws the most press – and the bulk of the company’s revenue, its radio division is improving after a number...