TVA Q1 results in magazine division are positive as result of cost-cutting

Though there was a decline in operating revenues in the magazine division of TVA Group Inc. it has been able to have good, though modest,adjusted operating income of $875,000 , a variance of $491,000 primarily as a result of savings in staff and expense lines implemented in 2017 and the first quarter of 2018.

France Lauzière, President and CEO of TVA Group said

"Although the decline in our Magazines segment's operating revenues continued in the first quarter of 2018, we were able to improve the segment's financial results by continuing our efforts to cut operating expenses and focusing on our strongest brands. According to the latest Vividata survey, we are reaching 9.1 million readers in Canada across all platforms. Our English‑language titles have 6.7 million readers and our French‑language titles 2.9 million".

Over all, TVA Group Inc. recorded a net loss of $5 million or $0.12 a share in the first quarter, compared to a lost of $8 million or $0.19 a share in the comparable period in 2017. TVA Group Inc., a subsidiary of Quebecor Media Inc., is a communications company engaged in the broadcasting, film and audiovisual production, and magazine publishing industries. TVA Group Inc. is North America's largest broadcaster of French‑language entertainment, information and public affairs programming and one of the largest private‑sector producers of French‑language content. It is also the largest publisher of French‑language magazines and publishes some of the most popular English‑language titles in Canada. The Corporation's Class B shares are listed on the Toronto Stock Exchange under the ticker symbol TVA.B.