MONTREAL, May 7, 2015 /CNW Telbec/ - TVA Group strongly denounces the sensationalist and out of context treatment given today to an article published in the Montreal daily La Presse about TVA Sports, specifically regarding a decision by the Canadian Radio-television and Telecommunications Commission regarding royalties that should be paid to the network by Bell. The CRTC's decision is based on a submission that was filed when the network did not know the degree of success it would have during the playoff elimination rounds. This now allows TVA Sports to show a more accurate value for the next renewal period.
Contrary to the impression given by the article in La Presse, yesterday's decision by the CRTC will have a short-term impact but will not affect the medium and long-term sustainability of the network. Furthermore, in the very near future TVA Sports will renegotiate royalties to obtain a more equitable share.
"TVA Sports is here to stay! TVA Group launched TVA Sports because sports is at the heart of its strategy," said Julie Tremblay, President and CEO of Media Group and TVA Group. "TVA Sports has achieved unprecedented successes. Over the last few years, we have built a network with a strong and experienced team, and have forged relationships with prestigious partners and advertisers. The exceptional results we attained this spring are beyond our expectations in terms of ratings, subscriptions, and advertising revenues, all of which make us more confident than ever about the future of the network. We should keep in mind that TVA Sports sees weekly rating averages that exceed 10 market shares compared to RDS which doesn't even reach 2%."
About TVA Group
TVA Group Inc., a subsidiary of Quebecor Media Inc., is an integrated communications company specializing in broadcasting, film and television production, and magazine publishing. TVA Group is the largest producer and distributor of French-language entertainment, news and public affairs programming, and magazine publishing, as well as being one of the largest private production firms in North America. Its class B shares are listed on the Toronto Stock Exchange under the symbol TVA.B.
SOURCE TVA Group
For further information:
Véronique Mercier, Vice President, Communications, TVA Group, 438-390-0876, [email protected]