Quebecor profit plunges on media division hit

Quebecor Inc.’s news media division took a major hit in the first quarter on a dramatic drop in advertising spending on newspapers.
The Montreal-based media giant, on the other hand, says its mobile telephone service performed well, with 18,300 subscriber connections in the first quarter.
Operating income in news media – which includes the Sun chain of newspapers and the flagship Journal de Montréal on the French-language side – plummeted 63.7 per cent to $5.7-million in the first quarter.
More