Cable and satellite companies pulled in some handsome revenues last year, while private TV networks lost millions.

Last year, in the middle of a recession, the cable and satellite firms saw revenues rise by nearly 12 per cent.

On the other hand revenues for private TV networks took a hit, sliding nearly 8 per cent. Their revenues are down $143 million from the year before. Despite trimming costs with cuts and layoffs, the networks still lost $116 million in 2009.

These financial results are sure to add fuel to the fire-fight between the cable companies and the networks.

Both sides have been arguing for months over whether the cable companies should be paying broadcasters to carry their signal.

“The conventional television financial model in Canada is collapsing,” Hubert Lacroix said to the CRTC last November. He insisted that conventional TV broadcasters should get paid for their signal on cable and satellite services.

But the cable and satellite companies said they couldn’t afford to pay for conventional TV signals. They said they’d have to pass on the extra cost to consumers.

These results seem to belie that argument.

The CRTC stats show they made a 25 per cent profit margin last year.

The CRTC released the results today, a few days before it releases its decision on the fee-for-carriage issue on Monday.

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