Sun News Network doesn’t have an audience and is losing a lot of money (but, hey, it’s happy!)

With news of Quebecor’s windfall first-quarter profits also comes news that Sun News Network, Quebecor’s year-old news channel, isn’t doing so hot. In the first quarter, the network’s owners were forced to dump $3 million more into the floundering operation after sinking $6 million into the same outfit last year. Despite the clear signs that Sun News is failing—it isn’t attracting viewers and its financial losses are accelerating—Quebecor’s chief financial officer noted to the Globe and Mail that “the programming guys are happy” and that the company is pleased with the content it has created. Well, at least somebody likes it. [Globe and Mail]