Regulatory fees slam TVA Q2
Private broadcaster earns $12.4 mil through June 30TORONTO -- Canadian French-language broadcaster TVA on Friday posted sharply lower second-quarter earnings due to a regulatory charge.
Montreal-based TVA, Quebec's largest private broadcaster, said it earned CAN$12.8 million ($12.4 million) through June 30, off 23% from a profit of CAN$16.6 million in 2007 as it paid out CAN$5.7 million ($5.56 million) in disputed regulatory fees to the CRTC, Canada's TV watchdog.
Despite a soft TV advertising market, TVA recorded overall revenue of CAN$111 million ($108.2 million) during the latest quarter, up 4.2% from a year-earlier CAN$106.5 million.
TVA competes for over-the-air dominance in the Quebec market with Radio-Canada, the country's French-language pubcaster.