Quebecor Media Inc.

Quebecor Media Inc.

March 09, 2009 12:41 ET

Quebecor Media Welcomes Canadian Heritage's Response to Governance, Funding and Policy Issues at Canadian Television Fund

The dawn of a promising new era for Canadian content

MONTREAL, QUEBEC--(Marketwire - March 9, 2009) - Quebecor Media welcomes the positive response from the Honourable James Moore, Minister of Canadian Heritage and Official Languages, to problems of governance, funding and policy at the Canadian Television Fund (CTF). The announced changes will enable the new Canada Media Fund to focus on quality, successful Canadian content.

"We now have reason to think that the necessary conditions will be created to promote the development of a strong and creative production industry that is capable of claiming a place in what has become a fiercely competitive international environment," said Mr. Pierre Karl Peladeau, President and Chief Executive Officer of Quebecor. "We have criticized, on more than one occasion, the CTF's governance structure, the main effect of which has been to protect the interests of beneficiaries rather than to promote the financing of quality content that can attract large audiences and be distributed on all available platforms."

The creation of a Board of Directors on which all funding bodies, including Canadian Heritage, are represented will provide Canadians with better guarantees that the money will be spent more effectively, more transparently and in a manner that is more consistent with public policy.

"We don't produce or broadcast content in order to meet quotas or regulatory requirements; we do it because we believe in the ability of our creative people and the new generation of creative talent to produce content that meets the needs and expectations of Canadians," said Mr. Peladeau. "Private general-interest television is in crisis, as the CRTC itself recognizes. A Canadian fund driven by performance- and quality-related criteria is a positive development, one which should guide the Commission's future decisions."

While today's announcement does not solve every problem, Quebecor Media looks forward to the upcoming creation of the new Canada Media Fund and intends to work actively with all stakeholders to ensure that every dollar spent is invested with a view to producing and broadcasting content that Canadians want.

Quebecor Media Inc. is a subsidiary of Quebecor Inc. (TSX:QBR.A)(TSX:QBR.B), a communications company with operations in North America, Europe and Asia. Quebecor Media owns operating companies in numerous media-related businesses: Videotron Ltd., the largest cable operator in Quebec and a major Internet Service Provider and provider of telephone and business telecommunications services; Sun Media Corporation, the largest publisher of newspapers in Canada; TVA Group Inc., operator of the largest French-language over-the-air television network in Quebec, a number of specialty channels, and the English-language over-the-air station Sun TV; Canoe Inc., operator of a network of English- and French-language Internet properties in Canada; Nurun Inc., a major interactive technologies and communications agency with offices in Canada, the United States, Europe and Asia; magazine publisher TVA Publishing Inc.; book publisher and distributor Quebecor Media Book Group Inc.; Archambault Group Inc. and TVA Films, companies engaged in the production, distribution and retailing of cultural products; Le SuperClub Videotron ltee, a DVD and console game rental and retail chain; and Quebecor MediaPages, publisher of print and online directories.

Contact Information