Please login to continue



Adnews offers non-subscribers free access to one story per month.

Subscribe for unrestricted access to our content.

Forgot your login or password? Click here.

TVA Group announces restructuring

TVA Group of Montreal has announced a restructuring plan that will result in the elimination of approximately 140 positions at the corporation. According to TVA, this is part of a larger plan that will also eliminate approximately 100 additional positions at other Quebecor entities that provide services to TVA, for a total of 240 positions.

The company cited a drop in television audiences due to the rising popularity of streaming services, as well as a loss of advertising revenue to Radio-Canada and increased spending on content, resulting in declining profitability, as the reason for the decision. TVA Group is a subsidiary of Quebecor Media.

“Fourth quarter results continued to be impacted by declining profitability across all our segments and in the various industries in which we operate,” said Pierre Karl Péladeau, acting president and CEO of TVA Group. “Nevertheless, we have continued to make massive investments in content, which have also affected the profitability of our conventional network. Faced with these circumstances and the lack of regulatory and government intervention, we are forced to take appropriate measures in order to restore our financial position and ensure TVA Group's sustainability. It was a difficult but necessary decision in the current environment.”

« Back Next »

Related stories Comments