GATINEAU – In its submission to the CRTC’s review of mobile services, Cogeco – which already offers cable, Internet and local phone in various markets in Quebec and Ontario – has proposed another way to get into wireless without losing its shirt.
With less than 800,000 wired subscribers, the company can hardly afford the cost of entry in the wireless club but definitely wants to add mobile so it can provide the entire bundle of services to customers. For years, Cogeco has been advocating a mandated Mobile Virtual Network Operator (MVNO) regime to piggyback on larger wireless operators at cost…
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MONTREAL – Cogeco Communications has wrapped the $720 million sale of its business information and communications technology services subsidiary Cogeco Peer 1 Inc. to investment firm Digital Colony.
Cogeco Peer 1’s portfolio includes over 3,300 route kilometers of owned, dense metro fibre in greater Toronto and Montreal, as well as several data centers across North America and Europe. When the deal was announced in February, Cogeco said that it would retain “significant” fibre capacity in Toronto and Montreal.
The company said Wednesday that it will use the bulk of the net proceeds from the sale to repay amounts outstanding under its term revolving facility…
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MONTREAL – Cogeco Communications said Thursday that the president and CEO of its U.S. subsidiary Atlantic Broadband is leaving the company to pursue personal interests.
Richard Shea has been with Atlantic Broadband since it was founded in 2003 and was named its president and CEO at the beginning of 2015. He will remain with the company for a short period of time to ensure a smooth transition.
CFO Patrick Bratton will assume the position in the interim while the search for a successor is underway.
“On behalf of my colleagues and the entire Cogeco Communications team, I’d like to thank Rich for his…
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MONTREAL – While second quarter revenues jumped 10.2%, Cogeco Communications saw profits for the period plunge by about 44% without the gains related to U.S. tax reforms that it recorded in the same period last year.
Profits for the period ended February 28, 2019 were $80.8 million, of which $76.3 million was attributable to the owners of the Corporation, down from $143.8 million, of which $140.9 million was attributable to owners of the Corporation in the comparable period of fiscal 2018. The company said late Tuesday that the variation is mainly due to last year's $94 million income tax reduction…
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TROIS-RIVIÈRES – Cogeco Connexion today announced the launch of its new managed Wi-Fi solution for small and mid-sized businesses in Quebec.
The complete and customizable solution will support the growing demand for fast and reliable internet connectivity by offering scalable solutions to match their current and future needs of its SME customers, says the release.
"(C)ompanies will benefit from adaptable solutions that can grow with them as they strive to increase their productivity, while reducing their operational and capital expenditures," said Antoine Shiu, vice president, marketing and sales, business solutions. "With the launch of our Managed Wi-Fi solution, our business customers…
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MONTREAL – Cogeco Communications is selling its business information and communications technology services subsidiary Cogeco Peer 1 Inc. to investment firm Digital Colony for $720 million.
Cogeco Peer 1’s portfolio includes over 3,300 route kilometers of owned, dense metro fiber in greater Toronto and Montreal, as well as several data centers across North America and Europe. Wednesday’s announcement said that the company will remain headquartered in Toronto and adopt a new brand.
Cogeco Communications said that it will retain “significant” fibre capacity in Toronto and Montreal under the deal, adding that it has signed a commercial agreement with Digital Colony “aimed…
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MONTREAL – Cogeco Communications credited its purchase of U.S. cableco MetroCast for a 15.1% increase in revenues for its first quarter of fiscal 2019 ended November 30, 2018.
Profit for the period dipped 3.1% to $79.1 million, of which $26.2 million was attributable to owners of the Corporation, resulting mainly from increases in depreciation and amortization, financial expense and integration, and restructuring and acquisition costs, that were partly offset by the improvement of adjusted EBITDA and a decrease in income taxes.
Revenue reached $674.0 million, up from $585.7 million in the same period last year, driven by growth of 16.3% in its…
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MONTREAL — Cogeco says its customer service problems are finally over.
After a customer management system upgrade went awry in 2018, causing frustration for its Canadian cable and broadband clients, the company says the problems have been resolved, and up to 600 additional short-term staff have completed their work and left the company, at a cost of about $11 million. Its 22 customer management systems have been successfully replaced by one.
"It's behind us," president and CEO Philippe Jetté told journalists on Friday before Cogeco's annual shareholders' meeting in Montreal, his first since taking over from longtime CEO Louis Audet (at…
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All applications due last week
MONTREAL – Cogeco Communications said that it will not participate in next year’s 600 MHz spectrum auction but will still “explore opportunities” in the wireless market.
In a surprising announcement late Thursday, the company said that basing the structure of the auction on large geographic areas makes it “uneconomical” for the company.
“We continue to actively and strategically pursue opportunities to enter the wireless market in order to offer a complementary service to our customers and expand our business,” said Cogeco’s SVP strategy and CTO Luc Noiseux, in the statement. “Following the acquisition of spectrum licenses…
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MONTREAL – Cogeco Media’s network of radio stations officially expanded to 22 on Monday after parent Cogeco Inc. wrapped up its purchase of 10 French-language regional radio stations in Quebec and Ontario from RNC Media.
The $19.2 million transactio received CRTC approval on October 11.
The new stations are located in Saguenay–Lac-Saint-Jean (Planète 104.5 in Alma, Planète 93.5 in Chibougamau, Planète 99.5 in Roberval, Planète 100.3 in Dolbeau-Mistassini, and Radio X 95.7 in Saguenay), in Abitibi-Témiscamingue (Capitale Rock 104.3 in Val-d’Or, Capitale Rock 102.1 in La Sarre, and WOW 96.5, in Val-d’Or), in Lachute (Pop 104.9) and in Hawkesbury (Pop…
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