Wednesday, April 20, 2016

Canada's only French language TV business channel to shut down

Argent, Canada’s only French-language business TV channel is shutting down after an 11-year run, its owner, Quebecor Media's TVA Group Inc. announced. The network said it made the decision reluctantly, saying that despite numerous efforts in recent years, it was “difficult if not impossible” for the specialty channel to maintain consistent profitability.
A financial summary provided to the CRTC shows that Argent was profitable for several years but lost money from 2012 to 2014. The station’s subscribers reached nearly one million in 2010 before crashing to 552,000 four years later. Its pretax profit margin slid from 10 per cent to negative 31 per cent over that time.
By contrast, Toronto-based Business News Network, owned by BCE Inc., topped six million subscribers in each of those five years and boasted a margin of between 36 per cent and 44 per cent throughout the period.

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