Awani Review

Complete News World

Revenues continue to decline at TVA

Revenues continue to decline at TVA

TVA Group's revenues continue to collapse.

The Quebecor subsidiary saw its revenues at the beginning of the year fall by 5% to 6.9 million compared to a year ago.

However, Montreal's broadcaster incurred a smaller loss than a year ago during the months of January, February and March. The net loss this year amounted to 17.9 million, while it amounted to 23.5 million in the same period last year.

Grand Chief Pierre-Carl PĂ©ladeau describes 2024 as a transitional year during which the reorganization plan announced in November will continue to be implemented.

This plan aims to refocus activities on TVA Group's broadcasting mission and optimize the company's real estate portfolio in order to realize savings.

The reorganization particularly captured the imagination last fall because of the firing of nearly 550 employees, equivalent to about a third of the workforce. The department has since reached agreements on renewing collective agreements for its employees in Montreal, Quebec and the territories.

TVA Group's annual shareholder meeting will be held approximately late Tuesday morning. Quebecor, in turn, will hold its annual shareholders meeting on Thursday.

See also  Tesla sales were up 74%, and profits soared