MONTREAL – Cogeco Inc. will raise its 2010 financial targets thanks in large part to steady growth at its Canadian cable operations.
For the first quarter ended November 30, 2009, Cogeco said that revenue increased by 6% to reach $317.4 million, and operating income before amortization grew 5.9% to top $122.6 million.
Net income amounted to $56.7 million. Excluding a favourable income tax adjustment related to the reduction of Ontario provincial corporate income tax rates, net income would have amounted to $26.9 million, a 17.2% increase compared to the first quarter of fiscal 2009.
The company now anticipates that annual revenue for…
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MONTREAL – Cogeco Cable has added LCN HD to its high definition line-up in Quebec.
The French news channel features interviews, debates and complete news coverage every 15 minutes of the day, all day. It will be offered in the majority of the areas where Cogeco offers digital cable and HD television.
www.cogeco.cawww.lcn.canoe.ca
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TORONTO – Despite a write-down in the value of its European subsidiary, Cogeco Cable presented 2009 financial year-end results that exceeded projections at its annual shareholders meeting late last week.
Consolidated revenue for 2009 grew by $141 million to $1.22 million, a 13.1% increase over the previous year. Consolidated operating income before amortization was up 17.7% to $524.4 million, due mainly to growth in revenue-generating units (RGU), rate increases and recent acquisitions in Canada.
However, Cogeco still recorded a net loss of $256.7 million for the year, due in large part to $383.6 million impairment loss of net of related income…
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QUIETLY POSTED TUESDAY on the CRTC’s web site were the 2009 aggregate financial data of the large Canadian broadcasters and BDUs. And, as we all knew, the BDUs are doing pretty well. The broadcasters, not so much.
CTV EVP Paul Sparkes tried to quickly introduce some of the data during its Q&A session Tuesday during the ongoing hearing into a broadcaster compensation regime because of the dramatically different bottom line numbers for his company compared to the big carriers. However, he was interrupted by Commission chair Konrad von Finckenstein before he could spit out the admittedly huge profit before…
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GATINEAU – For those of us who have been to a few of these CRTC get-togethers, Marjorie Lemieux will likely stick in our minds for a while.
Dressed in a bright purple sweatshirt, the Rogers Cable customer was on the first consumer panel of the day (a group pulled together from submissions via the “Stop the TV Tax” campaign) for hearing 2009-614, the one called by the CRTC in response to cabinet’s call for a report on the implications of paying a fee for conventional TV.
“My name is Marjorie and I want to stop the TV tax,” she began, adding…
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MONTREAL – Cogeco Cable has named Martinho Tojo as SVP and GM of its Portuguese subsidiary Cabovisao, effective December 1.
"Mr. Tojo is a seasoned manager with an excellent reputation in Portugal and internationally”, said Cogeco president Louis Audet, in the announcement. “We are delighted to welcome him to the team. His experience, his expertise and his knowledge of the Portuguese market will be key assets for Cabovisao.”
Jules Grenier ends his mandate at the helm at Cabovisao. He will return to the Canadian operations team on February 15, 2010 as VP of sales and customer services.
www.cogeco.ca
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GATINEAU – With a light dusting of snow outside and a grey beginning to yet another week of talking about paying for conventional television signals, you’ll hopefully forgive us for feeling just a little like this.
This is the fourth hearing inside of two years (and the second one in the past month!) whose focus is on compensating local TV broadcasters for their signals). This one, as CRTC chairman Konrad von Finckenstein pointed out right at the start, will not set policy, but instead will inform a report to be filed in the new year with Canadian Heritage Minister…
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TORONTO – Nickelodeon in Canada will offer over eight million households a chance to sample its kid friendly programming over the holidays thanks to a month long free preview.
From December 15 through January 18, the newly launched channel will be available on Rogers (channel 231), Shaw Direct (channel 182), Shaw (channel 135), Cogeco (channel 142) and Bell TV (channel 559).
Nickelodeon in Canada is a licensing agreement between MTV Networks International and Corus Entertainment.
www.nickcanada.com
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TORONTO – The Movie Network launched two additional high-definition channels on Wednesday, MExcess HD and MFun! HD.
Available free of charge to TMN subscribers, the new channels will mirror the programming available on MExcess and MFun!’s respective standard-definition channels.
“With the addition of these new channels, The Movie Network and its classic movie service, Mpix, have five HD channels collectively and boast the most HD movies of any network in Canada,” said Domenic Vivolo, SVP of marketing and sales for Astral, in the announcement.
The channels are available on Rogers and Cogeco Cable immediately. They will launch with Bell TV next week, and…
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TORONTO – Rogers Communications continued cutting its workforce this week as news broke on just how many positions have been eliminated by the cable, wireless and media giant of late.
While a number of folks on the media (primarily in magazine publishing) side were let go earlier in the year, Canadian Press reported Thursday that a total of 900 positions have been or are currently being eliminated.
Rogers VP communications Terrie Tweddle confirmed to Cartt.ca that this week’s news is the continuation of what we reported in October and that the number of positions eliminated are primarily in the management…
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