TVA Group magazine division sees 11.1% Q1 drop in revenues, 57.1% decline in profits

In its first quarter financials ending March 31, TVA Group's magazine division (TVA Publications Inc. and Les Publications Charron & Cie Inc.) reported an 11.1% drop in revenues, from $15,138,000 to $13,456, resulting in a adjusted operating income of $938,000, down 57.1% from the same period the year before. The company reported that the decline in operating revenue was mitigated by cutting operating expenses by 3.4%, mostly in editorial costs. the largest publisher of French-language magazines

Over all, the TVA Group Inc., a subsidiary of Quebecor Media Inc. and the the largest publisher of French-language magazines in North America, announced a net loss of $14.7 million, compared with $10.2 million in the same quarter of 2014. Most of this was attributed to its broadcasting and production segment.

On April 12, the company closed the deal to acquire 14 magazines, three websites and custom publishing contracts from Transcontinental Media for $55.5 million.