MONTREAL - Cogeco Inc. announced Tuesday that it has been entirely released, without costs, from its obligations to CIBC as guarantor of Groupe TQS, contracted on December 14, 2008. The release of Cogeco follows the repayment by Remstar Corporation of all sums owed by Groupe TQS to CIBC, Cogeco said in a statement. Remstar won the bidding competition for the financially-troubled Quebec TV network earlier this month, and is now in the process of finalizing details of the purchase and presenting its proposals to creditors. TQS is 60% owned by Cogeco and 40% by CTVglobemedia. Creditors will vote on the...
