money digest


Quebecor delay

Quebec media giant Quebecor said Monday that it will delay the release of its year-end 2007 financial results until it can finalize the results of its troubled printing division. Montreal-based Quebecor said its troubled printing division Quebecor World failed to meet its filing deadline. Quebecor secured bankruptcy protection for its printing division in January and has so far failed to finalize a rescue package for it (HR 1/22). It has maintained that its cable and broadcast division Quebecor Media will be unaffected by the decision of Quebecor World to go to court for creditor protection.

Mobile over TV

Consumers worldwide will buy more multimedia mobile phones than TV sets this year, according to a new report from Research and Markets. The Dublin, Ireland-based firm predicts that 300 million such phones that can play audio and video and browse the Internet will be sold in 2008. Its new report, "Mobile Media 2008: The Third Screen for Entertainment," also found that half of the world's population, or 3.3 billion people, now have a mobile phone subscription. "The potential size of the market for mobile media is staggering," the report said. "The thought of several billion consumers carrying around a hand-held device that is capable of playing video and audio entertainment is making content creators salivate." Indeed, it predicts that more content will become available on mobile devices, including Apple's iPhone, during the next five years and that consumers in many markets will get used to having it at their fingertips. The report also cites cell phone giant Nokia as saying that 25% of entertainment on mobile devices will come from online communities by 2012.