A fter reporting only a $23,000 year-over-year growth in revenue in Q4, resulting in a $300,000 loss for the quarter, TVA Groupe has announced a restructuring that will result in the loss of more than 200 jobs.

The plan will see 140 jobs eliminated at TVA and an additional 100 jobs cut elsewhere at Quebecor entities that provide services to TVA.

Pierre Karl Péladeau, acting president and CEO of TVA, alleged that part of the blame for the company’s quarterly performance is due to “unfair and disloyal competition” from Radio-Canada, which he said is pursuing ratings and advertising dollars outside of its mandate. He also said that the CRTC needed to intervene to correct this “uneven playing field” as well as “prejudicial treatment” of the company’s specialty channels by Bell.

Péladeau also attributed the impact of foreign-owned streaming services for the Q4 performance, which he said was continuing to contribute to a downward trend in TV audiences.

In the company’s broadcasting segment, profitability was down due to a 2.3% decline in ad revenues combined with greater spending on content. TVA Sports’ profit was also down, due to an unfavourable comparison to Q4 2021, where it had a retroactive adjustment from the 2020-2021 NHL season.

Péladeau did say, however, that increased spending on content did help TVA‘s channels grow their market share to 40.3%, with shows like Chanteurs masqués, Révolution and Indéfendable regularly pulling in more than one million viewers.

TVA‘s earnings in its Productions and Distribution segment increased slightly, thanks to improved margins on distribution activities on streaming platforms and in Canada, combined with lower administrative expenses. The Film Production & Audiovisual services division declined, due to volume being down because of fewer international productions being made in Quebec. This was, however, partially offset by another quarter of growth for its post-production services.

Finally, the company’s Magazines segment continues to be in steep decline due to reduced government assistance and lower revenues from both advertising and subscriptions.

This story originally appeared in Media in Canada