Videotron grows revenues; Sun Media laying off 500

Quebecor Media Inc. reported lower profits despite a rise in third-quarter revenues and subscriber numbers for its telecommunications services, the company said. In a quarterly earnings report released Tuesday, Quebecor said profits for the quarter totalled $18.6 million in the three-month period ended Sept. 30, down $7.5 million from the same period a year earlier. The drop resulted largely from a $31.8 million “restructuring” cost for its Sun Media Corp. division, which runs the country’s largest chain of newspapers, the company said. In a separate release, Quebecor said it will cut 500 jobs across Sun Media and close publishing plants in Kingston and Ottawa, Ont. to find $45 million in annual savings. Quebecor reported $1.06 billion in total revenues in the quarter, up 4.4 per cent, or $44.3 million, from the same period last year, powered largely by gains at its Videotron division. Videotron’s Internet revenues rose $18.5 million to $194.1 million and its cable television revenues rose $16.3 million to $269.1 million, while mobile phone and wireline services brought in $45.1 million and $113.8 million in revenues for the quarter, respectively, the company said. The company added 15,000 net cable TV subscribers in the quarter, 29,100 net Internet subscribers, 26,300 telephone subscribers, and 30,700 mobile customers, the company said. “We are very satisfied with the growth recorded by Videotron in the third quarter of 2012,” Robert Dépatie, Videotron’s president and CEO, said in a statement. “Revenues from Videotron’s main services were all up substantially, enhancing the Telecommunications segment’s operating income by $34.5 million, a significant 12.5% increase.” The company said it collected average monthly revenue of $112.32 from each customer in the quarter, up 7.7 per cent from $104.33 in the same period a year earlier.

Videotron grows revenues; Sun Media laying off 500

Brief | November 13, 2012

Unlock all the Canadian telecom, broadcasting and digital media news you need.

FREE TRIAL

SUBSCRIBE

Inside The Wire Report

Information

Hill Times Publishing

Get in Touch With Us