Quebecor on Thursday posted higher earnings, despite standstill revenues.

The Montreal-based media giant posted adjusted income from continuing operations at $68 million for the three months to Dec. 31, 2013, compared compared with $52.3 million in the same period of 2012. Revenues were  up 0.5% to $1.12 billion.

In the broadcasting segment, where Quebecor runs the TVA network, adjusted operating income rose 40% to $45.4 million, due to the favourable impact of a retroactive adjustment to royalties for distant signal retransmission for the four years to 2013, and a fall in the adjusted operating loss of Sun News General Partnership.

Quebecor also pointed to positive momentum from TVA Sports recently doing a side deal with Rogers Media to become the NHL’s official French‑language broadcaster in Canada for the next 12 years.

Quebecor president and CEO Robert Dépatie predicted continuing growth for the media group, due to the NHL deal and other strategic moves like expansion in telephony.

“These transactions open immense opportunities for future development and growth for the corporation,” he said in a statement.