Tuesday, July 22nd21.5°C
22712

Quebecor considering launching wireless service outside home province

MONTREAL - Quebecor Inc. (TSX:QBR.B) will soon decide whether it will expand its wireless service outside of its home province of Quebec, but chief executive Pierre Dion wants to first meet with the federal government.

"We expect to meet with the Canadian government soon in order to let them know what we assume to be the right conditions for us to operate a single service wireless business outside of our home territory," Quebecor president and chief executive Pierre Dion said Thursday.

"Its response will dictate our next step."

Dion said the company is analyzing its options, but did not specify what he was looking for to make a decision to expand across the country.

Quebecor owns the province's most-read tabloid newspaper and its most-watched TV network. It also operates a 24-hour news TV channel and Videotron, Canada's third-largest cable services provider and a wireless provider in Quebec.

Quebecor bought a swath of wireless spectrum in Ontario, Alberta and British Columbia, in addition to Quebec, in the federal government's spectrum auction earlier this year.

The move raised hopes it would become a fourth national player to compete with Rogers (TSX:RCI.B), Telus (TSX:T) and Bell (TSX:BCE), but the Quebec company has been cagey about whether it will take up the challenge.

"I'm confident that our team will manage the process rigorously and that should the plan make sense, we will get the right attention," said Dion, adding that he expects to make a decision in a "few months."

Quebecor said Thursday it earned a profit attributable to shareholders of $40.7 million, or 33 cents per basic share, in the first quarter, compared to $35.6 million and 29 cents per share in the same period last year.

The Montreal-based media company says adjusted income from continuing operations was $49.3 million, or 40 cents per share — up from $36 million or 29 cents a share in the same period of 2013.

Revenue during the quarter was $1.04 billion, a gain of $11.4 million or just over one per cent.

Quebecor's telecommunications segment grew its revenues by $31.8 million and its adjusted operating income by $21.9 million in the quarter. Videotron Ltd. saw first quarter revenue increases for all of its major services.

Internet access revenue was 6.9 per cent higher at $13.6 million, the mobile phone segment grew 23.4 per cent to $11.7 million and cable television revenue grew marginally to $800,000.

During the quarter, Pierre Karl Peladeau resigned from the Quebecor board following his decision to enter provincial politics. He was elected as a Parti Quebecois party member in April. Sylvie Lalande was appointed board chairman of TVA Group and Françoise Bertrand named the board chairman at Quebecor.

The Canadian Press


Read more Business News

22557


Recent Trending




Today's Market
S&P TSX15315.13+65.14
S&P CDNX1010.884.40
DJIA17113.5461.81
Nasdaq4456.016+31.312
S&P 5001983.53+9.90
CDN Dollar0.9318+0.0005
Gold1313.40+4.2001
Oil104.30-0.29
Lumber332.50+6.20
Natural Gas3.77-0.002

 
Okanagan Companies
Pacific Safety0.200.00
Knighthawk0.01-0.005
QHR Technologies Inc1.19+0.04
Cantex0.06+0.005
Anavex Life Sciences0.33-0.018
Metalex Ventures0.07+0.005
Russel Metals35.60+0.61
Copper Mountain Mining2.83+0.14
Colorado Resources0.215+0.015
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.19+0.01

 



22557

FEATURED Property
2009563404-3163 Richter
2 bedrooms 2 baths
$198,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...


Euro debt woes re-emerge

Big Picture Euro debt woes re-emerge Europe’s debt woes jumped back into the headlines this week trumping other economic, geopolitical and corporate developments. Word that one of Portugal&rsquo...

_








Member of BC Press Council


22707