MONTREAL — The CEO of Quebecor Inc. says the low Canadian dollar will not deter the media conglomerate from pursuing its goal of landing a National Hockey League franchise in Quebec City.
Pierre Dion says the company's commitment to the process hasn't wavered.
But Dion admitted to reporters after a business speech in Montreal today that he does check the loonie's value on a daily basis.
The dollar has bounced back somewhat in recent weeks against the American dollar, although it lost 1.04 of a U.S. cent today to close at 75.68.
Quebecor (TSX:QBR.B) owns the naming rights for Quebec City's publicly funded 18,259-seat Videotron Arena and the company submitted a bid for a NHL franchise last July.
The NHL has projected the cost of a franchise at a minimum of US$500 million and said the earliest any expansion would happen is the 2017-18 season. Las Vegas is considered the favourite.
The Canadian Press