“In the magazines segment, first quarter results were significantly impacted by the reduced government assistance and a 9.5% decrease in newsstand revenues, which are a major source of revenues for our entertainment titles,” said the company in a press release.

“In that context, we reiterate the importance for the federal government to commit to maintaining the current grant programs to support this segment, which has been in decline for a number of years. As a leading publisher in the French-language market, we produce titles that help showcase our talent and local culture and it is essential to ensure their survival,” the company said.