Quebecor Media has increased its holdings in TVA Group Inc. and how has a majority of both its non-voting shares and total equity interest in Quebec's largest private-sector French-language televison network. Quebecor Media said Friday it paid $97.9-million to buy an additional 17.3 million TVA class B shares, raising its total to 25.2 million or 64.9 per cent of the class from 40.7 per cent. Including its class A voting shares, Quebecor Media now owns 68.4 per cent of TVA's total equity. Quebecor Media is the main subsidiary of Quebecor Inc., which has a 75.7-per-cent interest in the media business that controls TVA, the Vidéotron cable and telecom network and publishing businesses.
The offices of Quebecor Inc. seen in Montreal on May 8, 2013.
Christinne Muschi/The Globe and Mail