Pelado condemns the “continuous obstruction” of Bell, Telus and Rogers

Quebecor's big boss, Pierre-Carl Péladeau, condemns the “continuous obstruction” shown, according to him, by the “oligopoly” of Bell, Telus and Rogers in the telecommunications sector.

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“So that we can continue to play our role as a strong fourth player, the constant obstruction of”Large 3“All forms of competition must stop,” Mr. Péladeau declared Thursday, before urging the Canadian Radio-television and Telecommunications Commission (CRTC) to continue putting in place “appropriate tools” to allow Quebecor to “struggle on an equal footing with workers.” Oligopoly in place.

“Not a week goes by that we don't have a problem with Bell, and I think we're not the only ones. Many customers also have problems with Bell,” he said during a press conference following the Quebecor shareholders' meeting.

Pierre-Carl Péladeau criticizes Bell in particular for not paying enough to distribute Quebecor's specialty channels, including TVA Sports and Telus for charging the Montreal company too high prices to access its cellular network at home.

The CRTC recently dismissed Quebecor's lawsuit challenging fees charged by Telus.

“This decision will force us to review our wireless offerings as well as launch our services in some Canadian regions, taking into account the very high operating costs it will generate,” Mr. Belado said.

Two categories of Canadians

“This will help create two classes of Canadians: those who will benefit from healthy competition where freedom has its own net, and others who will be deprived of the benefits resulting from our full presence,” he told the follow-up.

Just over a year ago, Quebecor paid $2.9 billion to acquire Freedom Mobile, which opened doors to Ontario, British Columbia, Alberta and Manitoba. Freedom has nearly 2 million customers and more than 1,600 employees.

Over the coming years, Quebecor intends to invest significant amounts to expand the Freedom network, which will reduce the need to rely on its competitors.

“Instead of being tenants, we will become owners,” explained Pierre-Carl Péladeau. This is the same route taken by Videotron in Quebec.

“A New Beginning” for TVA

The manager also said he hopes TVA Group will see a “fresh start” after more than 600 workers were fired. This restructuring process, which was announced last year, aims to correct the financial situation of the TV subsidiary.

“In an environment where television is struggling to survive, and where CBC/Radio-Canada recently received $42 million in compensation for lost advertising revenue, it is difficult to understand governments choosing not to expand the tax credit for journalism,” said Mr. Belado. Sorry.

Quebecor on Thursday named former Prime Minister Brian Mulroney, who died in February, as an “honorary director” of the company. Sylvie Lalande, Quebecor's director since 2011, will succeed Mr. Mulroney as Chairman of the Board.

Quebecor in the first quarter of 2024

Trading volume: $1.36 billion (+22.2%)

Net profits: $167.6 million (+47.7%)