TVA Group posts net loss in third quarter

The company reported continuing pressure on its TV advertising business, but revenue increases for its specialty channels, especially TVA Sports.
money, Canada

TVA Group posted a net loss of $36.5 million for its third quarter, which ended Sept. 30, 2015. That’s up over the same period last year, which saw a net loss of $35.6 million.

Despite that net loss, the company reported higher adjusted operating incomes across its segments.

Continuing pressure on TV advertising revenues is noted as a factor in the company’s financial report for the quarter, with it taking a $60 million non-cash impairment charge because it determined the book value of a broadcasting licence was no longer recoverable. That’s versus a charge of $41 million for the same period last year.

However, TVA Group is continuing to see boosts for its specialty channels, especially on TVA Sports. The continuing success of TVA Sports fueled a jump in adjusted operating income for the broadcasting and production segment, which was $19.5 million for the quarter, up $14.7 million from the same period last year.

The magazines segment posted an adjusted operating income of $3.7 million, a jump of $890,000 from the same period last year due to the inclusion of titles acquired from Transcontinental Media on April 12 of this year.

Adjusted operating income in TVA Group’s new film production and audiovisual services segment was reported at $7.6 million for the quarter. 

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