TQS on the brink

TQS

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: Le Devoir goes into detail about the network’s troubles and owner Cogeco’s financial situation. It even adds an editorial cartoon.

UPDATE (Dec. 19): More stories about the network’s troubles:

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.

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