Sun News

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
535431241 Sun News Sun News General Partnership Les Placements Péladeau inc. Specialty (category C service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 0 2,911,606 n/a 4,261,911 46.38 5,573,065 30.76 n/a
DTH revenue 0 1,279,500 n/a 1,823,636 42.53 1,936,410 6.18 n/a
Local advertising revenue 0 0 n/a 41,044 n/a 0 -100.00 n/a
National advertising revenue 643,267 1,368,996 112.82 1,671,402 22.09 762,074 -54.41 n/a
Other revenue 28,722 96,954 237.56 141,044 45.48 227,389 61.22
Total Revenue 671,989 5,657,056 741.84 7,939,037 40.34 8,498,938 7.05 n/a

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 7,485,156 14,169,579 89.30 13,148,926 -7.20 13,030,853 -0.90 n/a
Technical 1,590,981 2,531,170 59.09 2,588,973 2.28 3,910,195 51.03 n/a
Sales and Promotion 898,900 1,365,007 51.85 2,069,732 51.63 1,612,579 -22.09 n/a
Administration and General 3,211,741 4,166,843 29.74 2,900,742 -30.39 2,638,878 -9.03 n/a
Total Expenses 13,186,778 22,232,599 68.60 20,708,373 -6.86 21,192,505 2.34 n/a

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income -12,514,789 -16,575,543 -12,769,336 -12,693,567
Depreciation 918,196 1,931,975 110.41 2,020,735 4.59 2,107,460 4.29 n/a
P.B.I.T. -13,432,985 -18,507,518 -14,790,071 -14,801,027
Interest Expense 0 -10,198 n/a -8 -99.92 4,552 >999±
Adjustments - Gain (Loss) 12,181 0 -100.00 0 n/a -78,250 n/a
Pre-tax Profit -13,420,804 -18,497,320 -14,790,063 -14,883,829

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 0 0 n/a 0 n/a 0 n/a n/a
Script & concept 0 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 7,482,984 14,169,579 89.36 13,148,926 -7.20 13,030,852 -0.90 n/a
Investment in Programming 0 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 7,482,984 14,169,579 89.36 13,148,926 -7.20 13,030,852 -0.90 n/a
Canadian Programming/Revenue (%) >999± 250.48 165.62 153.32

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 7,373,559 10,864,064 47.34 10,717,153 -1.35 10,132,081 -5.46 n/a
Total Staff Count 147 150 2.04 128.76 -14.16 133 3.29
Avg Remuneration 50,160 72,427 44.39 83,234 14.92 76,181 -8.47 n/a

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 0 4,856,022 n/a 4,973,066 2.41 5,013,037 0.80 n/a

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin >999± -293.0 -160.8 -149.4
P.B.I.T. Margin >999± -327.2 -186.3 -174.2
Pre-tax Margin >999± -327.0 -186.3 -175.1
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