Canada’s Sun News Shutting Down After Failing to Find BuyerGerrit De Vynck
Quebecor Inc. shut down its unprofitable Sun News TV channel after failing to find a buyer.
The closing ends a four-year chapter in Canadian TV news, where the upstart channel attempted to position itself as a more conservative alternative to BCE Inc.’s CTV News and the public broadcaster CBC News.
“This is an unfortunate outcome; shutting down Sun News was certainly not our goal,” Julie Tremblay, president and chief executive officer of Quebecor’s Media Group and Sun Media Corp., said in a statement Friday. The channel had about 100 employees, Veronique Mercier, a Sun Media spokeswoman, said in an e-mail.
Taking Sun News off the air further reduces Montreal-based Quebecor’s presence in English-language media. The company, majority-owned by Quebec politician Pierre Karl Peladeau, agreed to sell its major English-language daily newspapers to Postmedia Network Canada Corp. in October.
In a bid to increase its exposure, Sun News had lobbied Canada’s telecommunications regulator to include it as a mandatory channel in basic cable packages. That request was denied in 2013.
Quebecor rose less than 1 percent to C$32.18 at 9:51 a.m. in Toronto. The stock had gained 34 percent in the 12 months through Thursday.