Canada conventional TV stations post better profit

Tue Mar 4, 2008 1:35pm EST
 
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TORONTO (Reuters) - Profits at Canada's private conventional television stations rose in 2007 as revenues held steady, the country's broadcasting regulator said on Tuesday.

The stations earned C$112.9 million ($114 million) before interest and tax, up from C$90.9 million a year earlier, the Canadian Radio-television and Telecommunications Commission said in a statement.

"However, these totals remained below those reported between 2003 and 2005," the regulator said.

Revenues held steady at C$2.2 billion and operating expenses also were flat at C$2 billion, with the acquisition and production of programming accounting for the lion's share of costs.

The industry also cut jobs, although the total amount of salaries paid rose slightly, the CRTC reported. In 2007, the private conventional TV stations employed 7,873 people and paid out C$594.6 million in salaries. That compares with 8,197 workers who were paid C$593.6 million in 2006.

($1=$0.99 Canadian)

(Reporting by Wojtek Dabrowski; Editing by Peter Galloway)

 
<p>Melanie Chisholm, also known as Mel C of the British pop band "The Spice Girls", is interviewed at the MuchMusic television station to promote her new album "This Time" in Toronto, February 27, 2008. Profits at Canada's private conventional television stations rose in 2007 as revenues held steady, the country's broadcasting regulator said on Tuesday. REUTERS/Mark Blinch</p>