Quebecor Inc.'s publishing division TVA Group Inc. saw publishing revenues in Q2 fall to $2.6-million from a $3.1-million the year before, on lower newsstand sales and advertising revenues. Operating income for the publishing side was down $450,000.
Over all, however, TVA Group saw its Q2 profit almost double based largely on a 54¢-per-share gain from the sale of its 51 per cent stake in The Cave and 50 per cent stake in Mystery TV. Net income was $23.7-million, or $1 per share — up from $13.8-million, or 58¢ per share, in the same quarter of 2011a s in two specialty television services. Revenue fell slightly to $115.4 million from $117.5 million
TVA Group had posted a Q1 net loss of $39.3 million because of an impairment charge related to greatly increased Quebec government fees for waste recovery services.
President and CEO Pierre Dion Dion said the print divison continues to look for ways to reduce costs and find new business.
“The growth of the TVA Studio division, which specializes in customized publishing, commercial printed productions and premedia services, augurs well for the expansion of this line of business in the coming quarters,” he said.