MONTREAL — Cogeco announced Tuesday its majority shareholder, Gestion Audem Inc., has entered into an agreement to sell a block of subordinate voting shares on a private placement basis. Gestion Audem is the Audet family holding company, which owns majority control of Cogeco’s voting shares.
In connection with the sale of 288,183 subordinate voting shares, Gestion Audem will convert 210,643 multiple voting shares into subordinate voting shares, the news release says. The transaction does not alter the control of Cogeco since, upon completion of the transaction, Gestion Audem will retain control of Cogeco and ownership over 1,599,017 multiple voting…
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By Steve Faguy
MONTREAL — Cogeco is closer than ever to launching a wireless service, but it still requires regulatory change before it can do so properly, company CEO Philippe Jetté told journalists on Wednesday as the company held its annual shareholders meeting in Montreal.
It’s one of several dossiers where Cogeco is seeking to either change the rules or fight to maintain them depending on their business interests.
Jetté (pictured, standing), who took over from controlling shareholder Louis Audet (seated) as CEO in 2018, said he is looking forward to presenting his company’s proposal for a “hybrid mobile…
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MONTREAL — Cogeco Inc. reported its revenues and profits increased in the first quarter of 2020 compared to the same period last year, primarily due to growth in its American broadband services business and the acquisition of several radio stations a year ago.
Overall, Cogeco’s revenue increased by 1.8% to reach $618.5 million in Q1 2020, compared to the same quarter of 2019. The company’s adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in Q1 2020 reached $290.5 million, an increase of 5.2% over the first quarter of 2019.
Revenue from Cogeco Communications accounted for $586.8 million of the company’s…
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MONTREAL – Cogeco Communications announced today its U.S. subsidiary Atlantic Broadband will purchase Thames Valley Communications for US$50 million.
Thames Valley is a broadband services company operating in Southeastern Connecticut. The transaction is subject to customary regulatory approvals and is expected to close within three months, says the press release.
The deal will see Atlantic Broadband add approximately 10,000 customers to its operations in Connecticut and “allows Atlantic Broadband to expand its presence in a market where the company is already well established following its acquisition of MetroCast’s Connecticut broadband operations in 2015,” reads the release.
“We always look to expand our…
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MONTREAL – When Cogeco Connexion announced in 2018 its next generation video platform would come via MediaKind’s MediaFirst TV Platform, it said the new product would be in the market by the end of 2019.
While it is currently being tested in employee and other friendly homes, the company won’t be taking it to its Ontario and Quebec customers until sometime in the first quarter of 2020, a spokesperson told Cartt.ca this week.
“We’re getting ready to launch it progressively in 2020,” said Marie-Hélène Labrie, the company’s senior vice-president of public affairs and communications in an interview. Once launched, the…
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MONTREAL — Cogeco Communications announced today Ken Smithard, president of its Cogeco Connexion subsidiary, will be leaving the organization at the end of January 2020. He has been with the company for two decades.
Smithard is departing to pursue personal interests, the company said in a short news release. A recruitment process for his successor is being launched, the company said.
“On behalf of my colleagues and the entire Cogeco Communications team, I wish to thank Ken for his 20 years of dedication to the company and his tireless work,” said Philippe Jetté, president and CEO of Cogeco Communications, in…
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MONTREAL – Broadband provider and broadcaster Cogeco Inc. saw its fourth quarter 2019 revenue increase by 3.1% compared to Q4 last year to reach $610.5 million, the company reported late Wednesday.
Revenue for the full fiscal year, ended August 31st, came in at $2.44 billion, an 8% increase.
Revenue increased in the company’s communications (video, broadband, home phone) segment, “mostly as a result of organic growth and the acquisition of the south Florida fibre network previously owned by FiberLight… on October 3, 2018 combined with the activation of bulk properties in Florida during the fourth quarter of…
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MONTREAL – Cogeco Communications announced today the appointment of Frank van der Post as president of its American division, Atlantic Broadband, effective November 4, 2019. He will be based in Quincy, Massachusetts.
Van der Post (right) joins Atlantic Broadband from KPN, a Dutch operator with more than seven million customers in the residential and enterprise markets, where he served as chief commercial officer. Before joining that telecom company, he spent several years in the airline and hospitality industries for British Airways and InterContinental Hotels Group.
“I am excited to join Atlantic Broadband and Cogeco Communications, and am delighted to be…
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MONTREAL – Cogeco Connexion announced Friday that its president, Ken Smithard, has been named to Canada’s Clean16 list for 2020, in the Technology & Telecom category.
Canada’s Clean16 are determined by Delta Management Group and its criteria in determining honourees is to consider measurable green accomplishments.
“In the last two years, Cogeco Connexion’s efforts have resulted in decreased greenhouse gas emissions by an astonishing 21%, the collection of more than 625,000 kilos of electronic waste, and have given a second life to 1.5 million refurbished units. Ken supported the implementation of employee-led initiatives such as carpooling system, urban beehives and…
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TORONTO – Managed hosting and cloud services provider Cogeco Peer 1, today announced it has changed its name to Aptum Technologies. The move follows the $720 million acquisition of the company from Cogeco Communications by Digital Colony.
“Aptum means ‘adaptability’ and reflects our heritage and vision for the future,” said Susan Bowen, Aptum CEO, in the press release earlier this week. Bowen was president of Cogeco Peer 1 prior to the sale of the company. “As businesses face exponentially increasing volumes of information, and data becomes an integral part of their infrastructure, technology platforms must adapt…
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