Quebecor CEO Pierre Karl Péladeau said on Radio-Canada Thursday evening that further cuts could occur in the TVA Group.
“Is there going to be [des compressions chez Groupe TVA] ? Yes, probably as time goes by, ”said Pierre Karl Péladeau in an interview with Gérald Fillion on RDI’s Zone Économie program on Thursday.
“Because we won’t be able to live with losses like those we experienced in the first quarter indefinitely,” continued Mr. Péladeau. There is no one, there is no business that can live with permanent losses. »
Recall that in February, Quebecor eliminated 240 positions, including 140 at Groupe TVA.
PHOTO PATRICK SANFAÇON, THE PRESS
Quebecor CEO Pierre Karl Péladeau
The CEO of Quebecor had just discussed its recent acquisition of Freedom Mobile. In doing so, the communications giant made inroads into western Canada and became the fourth largest wireless service provider in Canada.
Asked directly about Groupe TVA, Pierre Karl Péladeau assured not to foresee the closure of the company. “No, we don’t intend to get rid of it, but it’s certain that it will require a change of culture, to work differently,” he said.
Mr. Péladeau also has no plans to close the loss-making TVA Sports channel “for the moment”, he assured Gérald Fillion. “We are awaiting the decision of the arbitration [au CRTC]it will be decisive for the future of TVA Sports, ”he argued.
The decline in profitability of TVA Sports had been one of the main factors detailed by management in mid-February to explain the implementation of a restructuring plan due to the poor results of TVA Group.