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troutman · 03-15-2012, 11:51 AM

Bucks and pucks: Quebecor eyes NHL as profit climbs

http://www.theglobeandmail.com/repor...ontent=2369873

Quebecor Inc. (QBR.B-T36.27-0.03-0.08%) has “all the tools” it needs to bring a National Hockey League team to Quebec City, it said Thursday, as it reported profit that blew past expectations.

The Montreal-based media and telecommunications company said it spent 2011 refining its operations, and now wants to focus on hockey. Gains in its cable business led to a profit of $85.4-million, or $1.34 a share, compared to $46.6-million, or 72 cents, a year ago. Analysts expected a profit of 89 cents.

The company reached a deal for the naming rights of a yet-to-be-built $400-million arena in the city earlier this month. Terms of the deal vary depending on the eventual tenant, but Quebecor could pay as much as $65-million for the rights.

“As we review the events of 2011, we must also note the final agreement on management and naming rights to the future arena in Quebec City,” the company said in a statement as it released its quarterly and full-year results. “Quebecor Media now has all the tools it needs to pursue its goals, which are to manage a world-class multipurpose centre and to bring a National Hockey League team to Quebec City.”

03-15-2012, 11:51 AM	#129
troutman Unfrozen Caveman Lawyer Join Date: Oct 2002 Location: Crowsnest Pass Exp:	Bucks and pucks: Quebecor eyes NHL as profit climbs http://www.theglobeandmail.com/repor...ontent=2369873 Quebecor Inc. (QBR.B-T36.27-0.03-0.08%) has “all the tools” it needs to bring a National Hockey League team to Quebec City, it said Thursday, as it reported profit that blew past expectations. The Montreal-based media and telecommunications company said it spent 2011 refining its operations, and now wants to focus on hockey. Gains in its cable business led to a profit of $85.4-million, or $1.34 a share, compared to $46.6-million, or 72 cents, a year ago. Analysts expected a profit of 89 cents. The company reached a deal for the naming rights of a yet-to-be-built $400-million arena in the city earlier this month. Terms of the deal vary depending on the eventual tenant, but Quebecor could pay as much as $65-million for the rights. “As we review the events of 2011, we must also note the final agreement on management and naming rights to the future arena in Quebec City,” the company said in a statement as it released its quarterly and full-year results. “Quebecor Media now has all the tools it needs to pursue its goals, which are to manage a world-class multipurpose centre and to bring a National Hockey League team to Quebec City.”