Ottawa’s International Datacasting Corporation (TSX:IDC) is warning that its revenues are about to take a big hit.
The company’s broadcasting service for Canadian soldiers on overseas missions is set to be shut down at the beginning of April. Canadian Forces Radio and Television service accounted for 17 per cent of IDC’s revenue during the three-month period that ended Oct. 31, 2013.
The company reported revenue of $12.8 million during the period.
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IDC, which has run the service since 1999, stressed that the deal is being terminated due to a reduction in the number of Canadian Forces members deployed internationally and technological advances that have changed the way content can be delivered.
“This decision is in no way a reflection of the outstanding services provided by IDC to the CAF,” said retired brigadier general Peter Atkinson in a statement released by IDC.
“Since 1999, IDC has provided a little piece of Canada to the CAF members by providing Canadian content programming such as Hockey Night in Canada, the Grey Cup and a variety of entertainment and sports shows.”
Even so, it’s more trouble for IDC, which has struggled with internal conflicts, a drop in revenue and a $2.2-million loss in December.
“We are working closely with the forces to define means of content delivery that are cost-effective given current deployment levels, while remaining prepared to provide the full CFRT service in the future should circumstances change,” said Doug Lowther, the president and CEO of IDC, in a statement.
