RE:PrivatisationIn August 2011, TVA Group abolished the $0.05 quarterly dividend, for no valid reason. TVA Group is a public company just like parent-company Quebecor, which company pays a quarterly dividend to its shareholders. This demonstrates that Quebecor has no consideration for TVA Group shareholders. It is a flagrant injustice by Quebecor to deprive TVA Group shareholders of being paid a quarterly dividend. Since Quebecor doesn't want to treat TVA Group legitimately, it should have been long ago requested that TVA Group be privatized, to remove this unfairness behaviour of Quebecor towards TVA Group shareholders. It is now too late. TVA.B share price is barely $3.50 and Quebecor holds more than enough TVA.B shares to take TVA Group at its own wished price. Book-value has decreased year-after-year and is now at $6.45. TVA Group minority shareholders holding the remaining 13.7 million shares will never receive a greater amount than approximately $8.50/share, taking into account an average premium of 30% on the book-value price. There is also a fundamental problem with TVA Group in that management is dictated its business operations by Quebecor. TVA Groupe management has no independence, a reason more why it has no credibility of being a public company, at odds with Quebecor. At this week's Annual Meeting in Montreal, a fund manager asked TVA Group director Sylvie Lalande and CFO Denis Rozon why is TVA share price such low. Isn't time for TVA Group to become privatized, he asked? Lalande's response was that the issue of privatization is a decision process in the hands of Quebecor's Board of directors. Mrs. Lalande is herself a member of the Board of directors of Quebecor. Such a person (Mrs. Lalande) has no credibility. She is in conflict of interests by sitting on both TVA Group and Quebecor's Board of directors. And she acknowledges to have no power in making decisions about TVA. She is paid $150,000 a year for doing nothing on TVA's Board. Other TVA Board members are paid on average $40,000 a year, also for doing nothing. TVA Group is wasting approximately $650,000 a year to pay its useless board members. And yet, no TVA shareholders is smart enough to denounce this situation.