The aftershocks of Pierre Karl Péladeau's entry into the Quebec election continue to rumble.
One day after the billionaire media baron — whose company, Quebecor, operates TVA, Journal de Montréal, Journal de Québec and Sun News — announced his candidacy for the Parti Quebecois, there are questions about his overarching influence over journalists and their coverage of the campaign.
Before entering the race, Péladeau relinquished his duties as CEO of his family's empire but hasn't given up any of his interest in the company.
According to the Montreal Gazette, Péladeau owns 28 per cent the media conglomerate. His "multiple voting shares" however, give him 73 per cent of the votes at any Quebecor shareholders’ meeting, essentially giving him all decision-making power.
Moreover, he says that should he be elected to the National Assembly, he'll put his interest in the company into a blind trust but won't sell even if Quebec's ethics commissioner asks him to.
"I have no intention of sellingRead More »from Questions arise over PQ candidate Pierre Karl Péladeau’s influence over Quebec media