Q3 profits fall at Cogeco as it abandons IPTV project

MONTREAL – Cogeco Cable said late Wednesday that it has written down its IPTV overlay project in Canada to the tune of $32.2 million in its third quarter, and will offer TiVo to its customers in Quebec and Ontario starting next year.In its third quarter financial results, Cogeco said that it recognized an impairment of $32.2 million of property, plant and equipment, capitalized wages and borrowing costs related to an Internet Protocol Television (IPTV) solution project on which its Canadian operations had worked. “As a result of the unexpected performance issues encountered with the platform, it had to be abandoned...