The “static regulatory environment” which governs the Quebec and Canadian television sector would contribute to the declines in revenue observed among several television broadcasters.
• Read also: First quarter of 2024: results still affected by the decrease in revenues for TVA Group
The tax credit for supporting the written news media, from which television broadcasters cannot benefit, is one of the regulations criticized by the interim president and CEO of TVA Group, Pierre Karl Péladeau.
“There is no reason why broadcast journalists are excluded from the tax credit that the print or digital press receives,” he said shortly before the start of the annual shareholders meeting. from TVA Group, Tuesday.
According to the latter, this situation would contribute to creating “two classes of journalists”.
Faced with the situation, Pierre Karl Péladeau assures us that he intends to continue his efforts.
“We will continue to deploy our efforts to ensure that we can be treated fairly with all other sources of information, because there is not one that is more important than the other,” he says.
TVA Group unveiled its financial results for the first quarter of 2024 on Monday evening.
The company notably recorded revenues down 5.1% compared to the first quarter of 2023.
A net loss attributable to shareholders of $0.41 per share, including a favorable variance of $0.13 per basic share, is also reported.
Last November, TVA Group announced a major reorganization plan including the elimination of 547 jobs and the optimization of its real estate portfolio.
TVA Group also wanted to refocus its activities on its mission as a broadcaster.
