05:12:27 EDT Tue 23 Apr 2024
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or Name
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CA



TVA Group Inc
Symbol TVA
Shares Issued 38,885,535
Close 2016-11-02 C$ 3.53
Market Cap C$ 137,265,939
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Globe says Quebecor's TVA to cut 220 jobs

2016-11-03 08:48 ET - In the News

See In the News (C-QBR) Quebecor Inc

The Globe and Mail reports in its Thursday edition that Quebecor's media subsidiary said on Wednesday that it will cut 220 jobs, nearly 8 per cent of its work force, and cease publication of two magazines. A Reuters dispatch to The Globe quotes Quebecor Media Group as saying that the move would mostly affect managers, professionals and support staff, and would have no impact on news coverage across Quebec. The move includes the loss of 125 jobs at the media group's subsidiary TVA Group, a broadcast, publishing and production company. TVA Publications will no longer publish the Chez Soi and Tellement bon magazines. The Canadian media industry is struggling to deal with falling advertising revenue and the migration of audiences to on-line outlets. Rogers Communications in September said it will stop printing four of its biggest magazines next year and sell all its French-language and trade publications. Quebecor said that it will incorporate its local newspaper advertising salespeople into a broader group dealing with national sales, media creativity and research, in a bid to better serve advertisers. Quebecor closed Wednesday at $36.97, down 10 cents on the Toronto Stock Exchange.

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