TQS, which you’ll remember is in serious financial trouble, blaming it on a lack of revenue from cable operators to which they’re not entitled, asked CIBC World Markets to conduct a business review and tell them what they should do with themselves to avoid going under.
The answer, apparently, is bankruptcy protection and a major overhaul. Ouch.
TQS is owned 60/40 by Cogeco and CTVglobemedia.
UPDATE (Dec. 19): More stories about the network’s troubles:
- The Globe and Mail speaks to Adrien Pouliot, the son of the network’s founder, who says he’s disappointed.
- La Presse reports that 110% will stay on unaffected for now, and the 2010 olympics (which TQS and CTV are supposed to telecast instead of CBC/RadCan for the first time) are up in the air.
- La Presse also has an FAQ up of seven questions and a timeline of its history.
- TQS blogger Jean-Michel Vanasse links to two Facebook groups already setup by
the cast of Loft Storyconcerned viewers. (And an anti-TQS group too for good measure)
- The Fédération professionnelle des journalistes du Québec releases a brief statement hoping for a solution.
UPDATE (Dec. 20): Patrick Lagacé writes eloquently about how Quebec media, and not just Radio-Canada, have special treatment from the CRTC that forces people to subscribe to their channels whether they want to or not.
The idea of blaming Radio-Canada for being government-funded is kinda funny. People blame the Mother Corp when they waste government money on unpopular programming. Then they blame RadCan for popular programming.
Considering TVA, an entirely private company, is killing TQS in the ratings, the blame seems a bit misguided. Perhaps if they just stopped producing crap…
UPDATE (Dec. 21): The Globe and Mail’s Report on Business has an article about Radio-Canada and how it’s a ratings success compared to CBC’s ratings failure. I’m sure the fact that CTVglobemedia owns the Globe and 40% of TQS has nothing to do with the article’s negative stance toward RadCan.
The article also misses one very important point in comparing CBC and Radio-Canada: French TV receives 22% of the CBC’s budget, and English TV 36%. That’s a pretty significant advantage for RadCan considering the number of francophones in Canada’s population.
UPDATE (Dec. 22): La Presse’s Nathalie Petrowski asks what Quebec would lose if TQS just disappeared.