Possible lifeline emerging for Quebec’s floundering TQS network

Possible lifeline emerging for Quebec's floundering TQS network
by: CBC News

Rogers Communications and Radio Nord seem poised to save Quebec's troubled TQS television network from bankruptcy, according to newspaper reports.

Rogers is set to take over the network's Montreal and Quebec City stations, while Radio Nord is said to be interested in picking up the network's remaining regional affiliates, according to a story published in Montreal newspaper La Presse Tuesday.

Radio Nord already manages TQS stations in the Outaouais and in Abitibi-Temiscamingue but denied the newspaper's report late Monday. Rogers refused to comment in public.

As many as nine potential buyers have shown interest in the network, but no one had made a formal offer yet as of Monday at 5 p.m., Montreal lawyer Jean Fontaine said.

But the newspaper is reporting that majority and minority shareholders Cogeco Inc. and CTVglobemedia have accepted an offer from Rogers and Radio Nord.

Read the entire article here: http://www.cbc.ca/arts/media/story/2008/01/15/qc-tqs0115.html