MONTREAL – Cogeco Cable has announced a public debt offering of $200 million senior secured debentures series "2".
The interest rate of the debentures was set at 5.15% and priced at $99.807 per $100 for an effective yield of 5.175% per annum. Interest will be payable semi-annually on May 16 and November 16, with the first interest payment on May 16, 2011. They will have a term of 10 years with a maturity date of November 16, 2020, and closing of the offering is expected to occur on or about November 16, 2010.
The company said that the net proceeds from…
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THE ONTARIO CHAPTER of the SCTE is calling for nominations to fill three open seats on its board of directors.
SCTE Ontario has over 500 members, making it the second-largest chapter membership in North America. The bylaws require six board members, elected for two year terms, with three board members replaced each year in order to provide continuity.
Chris Macfarlane (Cogeco), Eric Goulden (Telonix) and Jason Lowe (Clearcable Networks) will remain on the board until the end of 2011. Board of director nominations for the next two year term are now being accepted as James Myles, Bill McMillan and Joe…
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TORONTO – Rogers Communications announced late Thursday that it has spent $75 million on voting shares of Cogeco Cable and Cogeco Inc.
Rogers Communications is acquiring the subordinate voting shares of Cogeco Cable (892,250 of them) at a cash purchase price, excluding commissions, of $43.98 per share, for aggregate consideration of $39.2 million. As for Cogeco Inc., Rogers has agreed to purchase 946,900 shares for $35.7 million.
Rogers already owns a large stake of the company’s voting and non-voting shares. The Cogeco Cable shares being acquired represent approximately 2.7% of the subordinate voting shares and after these purchases, Rogers will own…
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OTTAWA – The country’s largest cable companies want the CRTC to treat them the same as Bell and Telus. At least, as far as the Commission’s rules on speed matching go.
In a petition submitted to Cabinet last week, Cogeco, Quebecor on behalf of Videotron, Rogers and Shaw asked that the Governor in Council vary, rescind, or refer back to the Commission its decision on Telecom Regulatory Policy CRTC 2010-632 issued on August 30, 2010.
That decision, as Cartt.ca reported, was based on a public proceeding launched in May 2009 to consider whether incumbent local exchange carriers (ILECs) and cable…
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GATINEAU – Expanding the basic service objective to include broadband would have substantial negative financial impacts on their businesses, a group of small independent ISPs told the CRTC on Monday during the fourth day of hearings into the obligation to serve and other telecom matters.
This is the second week of the hearing, which moved back to Gatineau after three days in Timmins, Ont.
David Buffet, president of Radiant Communications Corp., said that creating a new subsidy regime to fund broadband expansion would turn a slight profit the company generated in 2009 to a net loss. Revenue…
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MONTREAL – On-going turbulence at its European operations helped to pull down fourth quarter profits at Cogeco Inc. by 16.2%.
Net income for the fourth quarter was $12.3 million, down from $14.6 million last year, despite a 5.5% increase in revenue from $316.2 million in 2009 to $333.6 as of August 31, 2010. For fiscal 2010, Cogeco’s revenues increased 5.5% to $1.3 billion, with a net income of $56.3 million, compared to a loss of $79 million a year earlier.
“Despite the slow stabilization of the global economic environment in fiscal 2010, Cogeco managed to achieve strong results, surpassing nearly all…
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GATINEAU – Canada’s major cable companies and telcos are squaring off against MTS Allstream and the Public Interest Advocacy Centre over the CRTC’s authority to mandate broadband as an essential service in the so-called “Obligation to Serve” CRTC proceeding beginning Tuesday in Timmins, Ont.
Comments filed with the CRTC in late August show that Bell Canada, Telus and all of the large cablecos are, not surprisingly, opposed to any Commission intervention on this matter, while PIAC and MTS firmly believe that the CRTC can make broadband essential.
The issue has become a central theme in the proceeding which will cover…
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MONTREAL – Cogeco customers in Ontario can now watch some of Global TV’s most popular prime time shows for free on the cableco’s on demand platform.
Available to all digital cable customers who have access to video on demand, the agreement includes new and returning favourites such as Survivor, Glee, Bones, The Good Wife and Hawaii 5.0. New episodes will be added each week.
"VOD is like a video club in the comfort of your own home, offering the ability to catch up on episodes you may have missed”, said Ron Perrotta, VP of marketing and strategic planning, in the announcement….
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MONTREAL – Cogeco Cable said Monday that it has finalized an agreement with Radio-Canada to offer some of its most watched shows to its on demand platform in Quebec.
All Quebec digital TV customers who have video on demand will now be able to access shows like Et Dieu crea… Laflaque, Les Parent, La galere, Les rescapes, Mauvais karma, Tout sur moi, 3600 secondes d’extase and more, 24 hours after their original broadcast.
"Our customers are real fans of certain TV series, but sometimes their schedules just don’t allow them to tune in, and they’d like to have more flexibility”, said…
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MONTREAL – Cogeco Cable has brought its new, faster high speed Internet service to Sept-Îles.
Business customers who currently subscribe to the company’s ‘Business HSI Enterprise’ service will be upgraded to the ‘Ultimate 50’ package at no extra cost, while residential customers in the region may now choose from either the ‘Ultimate 30’ or ‘Ultimate 50’ package.
Powered by DOCSIS 3.0 technology, the ‘Ultimate 30’ service offers speeds of up to 30 Mbps for downloads and up to 1.5 Mbps for uploads with a monthly download cap of 100 GB. With the ‘Ultimate 50’ package, speeds for residential customers can reach…
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