2023-05-13 08:01:49
In an interview Thursday evening at Economy zone, the businessman gave the impression that the future of TVA within the Quebecor group was in jeopardy. And that Quebecor’s source of growth will essentially, if not completely, pass through wireless services and the recent acquisition of Freedom Mobile in western Canada for $2.85 billion.
Pierre Karl Péladeau was clear about additional cuts to come at TVA. We cannot say that there will not be. Will there be? Yes, probably. […] We cannot live with losses like those of the first quarter indefinitely. There is no one, there is no company that is able to live with permanent losses.
This statement is clear from the CEO Quebecor, Videotron and Groupe TVA. And it is difficult for the employees of the latter not to be worried. But we must go further and read a little between the lines. Is Pierre Karl Péladeau’s intention to turn away from the media sector to focus all his energy on wireless? The question is legitimate.
think differently
I asked Pierre Karl Péladeau if the expansion of Quebecor went through western Canada and the acquisition of Freedom. His answer was unequivocal. Clearly, clearly
he said, then explaining that over the next seven years the company will have to develop its telecommunications infrastructure network in the west of the country, which will require significant investments while respecting the commitment of Quebecor to lower prices for mobile phone services.
I then asked him if the future of Quebecor was no longer really in the media sector and Groupe TVA. Pierre Karl Péladeau then launched into an explanation bringing us back to the acquisition of Videotron by Quebecor in 2000. As if he wanted to refocus his company’s primary commitment.
and in this respect we had the same vision– we were embarking on a profession with a future, a telecommunications profession. And very early on, in 2006, we considered that the future also belonged to wireless.”,”text”:”When Quebecor acquired Videotron, it was first and foremost a cable company . Yes, of course, there were media activities, including TVA in particular. And on the side of Quebecor, there were the dailies, the weeklies. But when we got involved in the acquisition of Videotron, in particular with the Caisse de dépôt – and in this respect, we had the same vision – we were committing ourselves to a profession of the future, a telecommunications profession. And very early on, in 2006, we considered that the future also belonged to wireless.””>When Quebecor acquired Videotron, it was first and foremost a cable company. Yes, of course, there were media activities, including TVA in particular. And on the side of Quebecor, there were the dailies, the weeklies. But when we got involved in the acquisition of Videotron, in particular with the Caisse de dépôt – and in this regard, we had the same vision – we were committing ourselves to a profession with a future, a telecommunications profession. And very early on, in 2006, we considered that the future also belonged to wireless.
I then insist on the future of the media sector in its business. He answers : There is no doubt that the media field is difficult. I’m not the only one saying this. You look at the results of all media companies, whether in North America or Europe, and you see that we are all in the same boat.
With 80% of revenue now in the hands of web giants, I ask him if he’s thinking of selling Groupe TVA. We have no intention of parting with it. But it is certain that it will require a change of culture. We will have to work differently, these things will happen as time goes by. But we will actually have to think otherwise.
And the future of TVA Sports depends on an arbitration desired by Pierre Karl Péladeau on the part of the Canadian Radio-television and Telecommunications Commission (CRTC) on the royalties that Bell should pay to Quebecor for the use of the service.
The future is in the numbers
The reality is in the figures published by Quebecor on Thursday. In its first quarter, the company saw its revenues from the telecommunications sector, so Videotron, increase by 2.4% to $925 million. Meanwhile, the media sector saw its revenue drop 6.1% to $170.8 million. TVA Group posted a net loss of $23.5 million.
On the one hand, most of Quebecor’s turnover generates growth and seems to have a bright future. On the other hand, the media sector is losing importance in the group, and Pierre Karl Péladeau seems to be losing interest in it more and more.
TVA Sports may close, other cuts are coming, a change in culture is coming, says Pierre Karl Péladeau. The dark clouds are gathering and it seems that the boss of Quebecor is losing interest in this activity. So, will Groupe TVA’s stock, which hovers around $1.50 only, be delisted?
Is it soon the end of TVA in the Quebecor empire? Will the business soon be for sale?
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