Videotron drives Q4 results at Quebecor

MONTREAL – Profits at Quebecor soared by almost 50% thanks in large part to the strength of its telecommunications subsidiary Videotron Ltee.Net income for the company’s fourth quarter ended December 31, 2009 was $73.8 million, compared with a net loss of $343.6 million in the same quarter of 2008. Operating income for the quarter jumped by 25% to $387.6 million, which included a $62.8 million (or 28.8%) increase in its telecommunications segment.The Montreal-based media company posted a 2009 net income of $277.7 million, a 47.7% increase from its 2008 profits of $188 million. Revenues for the year were up by...