|(in thousands of Canadian dollars)||For the year ended March 31|
|Television, radio and new media services costs|
|Payments to private stations||2,364||2,527||(6.5)|
|Share of profit in associate||(4,440)||(1,701)||161.0|
1. The amounts for 2013 have been revised as a result of the adoption of the revised accounting standard on pensions.
The following paragraphs describe key changes in our operating expenses.
English Services’ expenses increased by $65.7 million (6.8%) in 2013—2014 compared to last year. Most of this is attributable to the coverage of the Sochi 2014 Olympic Winter Games, and to increased hockey rights and production costs as a result of the return of HNIC following last year’s NHL lockout. These cost increases were partly offset by the impact of savings initiatives, the end of the Jeopardy! and Wheel of Fortune contract, and the sale of bold at the end of 2012—2013.
In 2013—2014, French Services’ expenditures were lower by $16.1 million (2.2%) compared to the previous year. This was mainly due to the implementation of savings initiatives to programming and operating costs and lower LPIF contributions. These reductions were partly offset by an increase in expenses related to the coverage of the
Sochi 2014 Olympic Winter Games.
Transmission, distribution and collection expenses decreased by $42.5 million (37.1%) in 2013—2014 compared to last year. This was mainly the result of two cost management initiatives: the accelerated shutdown of our remaining analogue TV transmitters and the end of shortwave transmission of RCI programming, which resulted in additional depreciation and the recognition of decommissioning costs. Both initiatives also decreased ongoing operating costs.
Finance costs decreased by $1.0 million (3.0%), reflecting the decreasing interest portion of financing leases, mostly for the Toronto Broadcasting Centre and satellite leases.
The current year’s share of profit in associate is a result of our investment holding in SiriusXM.