Quebecor is cutting 240 jobs in its media sector, including 140 within Groupe TVA, a decision that the company attributes to a drop in its revenues caused by the major online broadcasting platforms as well as “unfair” and ” unfair” from Radio-Canada.
This restructuring was announced Thursday, on the occasion of the publication of the fourth quarter results of Groupe TVA, which lost $300,000 during the three-month period ending on December 31.
“Results continue to be affected by a decline in profitability that affects all of our business sectors and the various industries in which we operate,” said its President and Chief Executive Officer, Pierre Karl Péladeau, in a communicated.
The controlling shareholder of Quebecor denounces in passing the growing presence of streaming platforms such as Netflix, Amazon Prime and Disney+, in addition to attacking Radio-Canada, which, he believes, has “launched in a race for ratings not provided for in its mandate” with its Tou.TV Extra service.
“The CRTC must address certain issues, in particular that of (Radio-Canada) which unfairly appropriates dollars which are the only source of revenue for our general interest channel, while the public broadcaster is largely subsidized by the State. adds Mr. Péladeau.
Quebecor did not specify the extent of the savings that would be realized through its restructuring.
More details to come.
