Quebecor CEO Pierre-Carl Pelado said on Radio-Canada Thursday evening that more cuts are possible at TVA Group.
“Is there going to be [des compressions chez Groupe TVA] ? Yes, maybe as time goes on,” Pierre Carl Pelado said in an interview with Gerald Fillion on RDI’s Zone Economy program on Thursday.
“Because we cannot live with the losses we experienced in the first quarter indefinitely,” said Mr. Péladeau continued. No one, no business lives on permanent losses. »
Recall that in February, Quebecor Group eliminated 240 positions, including 140 at TVA.
Quebecor’s CEO discusses its recent acquisition of Freedom Mobile. In doing so, the communications giant entered Western Canada and became the fourth largest wireless service provider in Canada.
When asked directly about Groupe TVA, Pierre Karl Péladeau promised not to foresee the closure of the company. “No, we’re not looking to get rid of it, but it’s going to require a change in culture to do things differently, that’s for sure,” he said.
Mr. Péladeau also has no plans to close the loss-making TVA sports channel “for now,” he assured Gerald Fillion. “We are waiting for the arbitration decision [au CRTC]It will be decisive for the future of TVA sports,” he argued.
TVA Sports’ declining profitability was one of the main factors explained by management in mid-February to explain the implementation of the restructuring plan due to TVA Group’s poor results.