Weak ad sales help sink 2013 profits at conventional networks

OTTAWA–GATINEAU - Canadian local television stations saw profits plunge in 2013, according to the CRTC’s latest statistical and financial report for this sector released Tuesday.According to the report Conventional Television – Statistical and Financial Summaries 2009-2013, profits before interest and taxes (PBIT) for private local TV stations dropped from $22.9 million in 2012 to -$2.3 million, and the PBIT margin decreased from 1.1% to -0.1%.Revenues dropped by 4.6% from $2.04 billion last year to $1.94 billion for the broadcast year ended August 31, 2013. While revenues from the sale of local advertising declined 1% from $355 million in 2012 to...