Montreal: Quebecor Media has filed a letter of complaint with the Competition Bureau asserting Cogeco and BCE are colluding to reduce the selling price of Quebecor’s 85% share of French-language TV network Television Quatre Saisons.

Quebecor put TQS on the block last fall after its $5.9-billion acquisition of Groupe Videotron and broadcast and media company subsidiary Groupe TVA, which Quebecor intends to keep.

Quebecor says BCE and Cogeco, the latter with a 13% to 15% share of TQS and a shareholder’s right of first refusal, made a joint bid for TQS that is considerably lower than an initial, standalone offer made by BCE. The BCE bid was reported to be more than $80 million.

In a related matter, Quebecor says it intends to contest a CRTC-commissioned study which indicates the value of Groupe TVA’s regulated assets is substantially higher, perhaps even double the $232-million acquisition price made public by Quebecor. In its takeover plan for TVA, Quebecor is offering $30 million in general production and industry benefits.

The CRTC says it intends to examine alternate, permanent production financing options to Quebecor’s benefit proposal at hearings on Quebecor’s application for control of Videotron and TVA and their regulated subsidiaries, scheduled for March 26 in Montreal. *

-www.quebecor.com

-www.reseau.tva.ca

-www.crtc.gc.ca