Convergence creates $5M in extra ads for Quebecor
Montreal, - Debt-saddled Quebecor Inc. claims it has generated $5 million of additional advertising sales ``directly by convergence''
at its media subsidiaries in the past four months.
Major clients in cross-media advertising campaigns included Hudson's Bay Co., General Motors and National Bank.
``Since the fall of 2001, Quebecor Media has been offering customers the benefits of a unique convergence strategy that is already yielding impressive results,'' the company said in a statement.
So far convergence has been a costly strategy in which major media companies such as Quebecor and CanWest Global have gone deeply into debt to buy print, broadcast and online assets.
Quebecor has been aggressively cutting jobs and selling smaller operations to reduce its debt, which stood $8.1 billion at the end of last year after ballooning with the $5.4-billion takeover of cable company Videotron.
The Montreal-based media and printing company also owns Quebec TV broadcaster TVA, the Sun Media newspaper chain and Netgraphe Inc., operator of internet property Canoe.
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