Is there a new media game in town? If Quebecor gets its way, the answer is yes.
Quebec business magnate Karl Peladeau is looking to shake things up with plans to launch a 24-hour cable channel modeled on the conservative U.S. network Fox News. Some are already dubbing it “Fox News North.”
The new venture would be headed up by former senior aide to Prime Minster Stephen Harper, Kory Teneycke.
It’s not like this would be the first 24-hour news offerings in Canada. CBC News network and CTV News Channel have been offering around the clock coverage for years now.
However, any new entrant into the market is good news for the media relations trade. Traditional journalism is an industry that’s been stymied by low growth and cutbacks in recent years. And that’s made it more and more difficult to find reporters and outlets to cover Canadian business stories, particularly for small cap companies.
Take the Globe and Mail for example. Veteran reporter Len Zehr covered a wealth of small biotech stories for Canada’s flagship paper, but since he left nearly two years ago, there’s been thin coverage of the sector. Without a dedicated beat reporter, that situation is unlikely to change.
Of course, there’s no guarantee of greater coverage for small cap companies with the introduction of this new station. It’s expected to be a mix of talk shows and hard-driving news. There’s been no word of any dedicated business programming. Still, with fierce competition to grab market share and endless slots to fill, we’re encouraged here by this potential addition to the Canadian scene.