Quebecor Media cuts annual loss to $213.9 million, revenue up 23%


Montreal, - Quebecor Media lost $213.9 million last year, a big improvement over 2001, but saw its fourth-quarter results deteriorate, the newspaper publisher, broadcaster and cable TV operator announced Thursday.

For the full year, Quebecor Media's loss was less than half the 2001 loss of $444.2 million. For the fourth quarter, however, Quebecor Media's loss increased six per cent to $173.7 million from $163.9 million. The company, wholly owned by the Quebecor Inc. conglomerate, isn't publicly traded and didn't disclose how much it lost per share.

In terms of revenues, Quebecor Media saw improvements in both the fourth quarter and full year compared with 2001.

For the quarter, revenues rose 3.8 per cent to $621.9 million from $599.3 million. For the year, revenues were up 23.4 per cent to $2.27 billion from $1.84 billion.

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