Canada’s Quebecor Halves Profit as Newspaper Losses Mount

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By: Etan Vlessing | Hollywood Reporter

The Quebec media giant on Wednesday posted first-quarter earnings down sharply as it failed to cut losses at its struggling newspaper division.

Quebecor, which has Canada’s largest newspaper chain and titles like the Toronto Sun and Le Journal de Montreal, saw earnings for the three months to March 31 halve to $35.6 million, against a profit of $71.4 million in 2012.

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