MONTREAL – While recent news swirling around the company has been about other things, Cogeco Inc. posted good fourth quarter and year-end 2020 results as broadband demand remained high in Canada and the U.S.
For the quarter ended August 31, 2020, revenue increased by 2.2% over Q4 2019 to reach $624.2 million while adjusted EBITDA reached $300 million, an increase of 6.7%. Cogeco Inc. contains Cogeco Communications (Cogeco Connexion in Canada and Atlantic Broadband in the States) as well as the company’s Quebec radio stations.
Full year revenue came in at $2.48 billion, a 1.4% increase over 2019 and…
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TORONTO – Bell Media’s 24-hour news network CTV News Channel has launched a nationwide free preview, the broadcaster announced today.
The free preview is available through participating television service providers across the country, including but not limited to Bell, Bell Aliant, BellMTS, Cogeco, Eastlink, Rogers, SaskTel, and participating members of the CCSA.
Please click here for more.
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By Greg O’Brien
TORONTO – While reminding that the Covid pandemic continues to have an impact on business – and cautioning there remains considerable uncertainty, Rogers Communications reported a solid rebound in its businesses in the third quarter of 2020, beating most of Bay Street’s estimates.
The company reported wireless total net loading of 168,000 new customers – including a 34% increase in postpaid net subscriber additions, the company said in its third quarter press release this morning. Rogers also said approximately 2.2 million total subscribers have now switched to Rogers Infinite plans, up almost 60% in 2020.
That’s important, said CEO…
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Feds say attachment costs “often prohibitively expensive”
By Ahmad Hathout
TORONTO – The newly-appointed board of directors of the Ontario Energy Board will oversee a review of pole attachment rates in the province, according to a mandate letter sent earlier this month, a priority assignment that is aligned with the province’s efforts to reduce equipment install costs to drive its broadband expansion goals.
Captured in just one line underneath a section on reducing regulatory burdens, the letter requires the “modernized” board to “consider pole attachment policy in the context of opportunities to better serve areas that are currently underserved.”
Ontario has the highest…
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MONTREAL –- Cogeco Communications announced this morning it will purchase rural cable/telco/ISP DeryTelecom for $405 million.
Based in Saguenay, DeryTelecom offers internet, television, and telephony services to approximately 100,000 customers in over 200 municipalities across several regions in Quebec, including Estrie, Lanaudière, Montérégie and the Laurentians. Revenue and adjusted EBITDA for the fiscal year ended August 31, 2020 are estimated to be $105 million and $44 million, respectively, reads the Cogeco press release.
Cartt.ca featured the company in 2017. It was established by Gilles Déry, a TV salesman, in 1954. Back then, over-the-air TV reception wasn’t very good in…
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MONTREAL – Cogeco Inc. and Cogeco Communications Inc. announced today their boards of directors “have unanimously rejected the revised unsolicited, non-binding proposal from Altice USA, Inc. of New York and Rogers Communications Inc. of Toronto.”
The companies’ statement says the boards met early on Tuesday to consider the purchase offer and Louis Audet, who is the executive chair of both boards and the representative of the controlling shareholder Audet family, formally confirmed “the publicly stated unanimous position of the Audet family as set out in its press release dated October 18, 2020.
“Following separate deliberations of the independent board…
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Rogers was the fastest fixed broadband provider in Canada in Q3, says Ookla
SEATTLE — In its latest Speedtest Global Index measurement of network speeds in Canada, Seattle-based Ookla reports Rogers Communications was the fastest fixed broadband provider among top providers in Canada in the third quarter of 2020.
According to Ookla’s Speedtest Intelligence data from July to September, Rogers achieved a speed score of 151.51 in Q3 2020. (Ookla’s speed score incorporates measurements of each provider’s download and upload speeds to rank network speed performance, with 90% of the final speed score being attributed to download speed.)
The next highest…
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Audet family would have received $900 million for controlling shares
NEW YORK and TORONTO – Altice USA announced Sunday evening it has presented a new, higher offer to purchase Cogeco Inc. and Cogeco Communications.
Then a bit later on Sunday evening, it was rejected by Cogeco’s controlling shareholder.
The new offer is for $11.1 billion, or $800 million more than the Altice/Rogers first pitch last month ($123/share for CGO and $150/share for CCA, a 57% premium over the shares’ prices as of August 1, notes the Altice release). What hasn’t changed is Altice’s desire to sell Cogeco’s Canadian assets to Rogers Communications,…
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MORE TV DISTRIBUTORS in Canada are adding CBC/Radio-Canada’s 24-hours news channels, CBC News Network and ICI RDI, to the lineup of channels available to all of their subscribers.
The public broadcaster says it is collaborating with the country’s TV distributors as Canadians face a resurgence of Covid-19. Back in mid-March at the beginning of the pandemic, many of Canada’s TV distributors made the two news channels available to their subscribers.
CBC News Network is now available to all subscribers on Bell TV, Rogers, Cogeco, Eastlink, SaskTel and others, with Telus and Shaw joining next week. In addition, as of tomorrow,…
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MONTREAL — Cogeco Connexion announced today it is expanding its broadband network in Ontario with a $10-million investment that will provide high-speed Internet access to more than 8,000 homes and businesses in the areas of Arnprior and Deep River, and their surrounding communities.
The investment will be delivered in collaboration with the government of Canada as part of its Connect to Innovate (CTI) program which will contribute $2 million, says the press release announcing the $10-million broadband network investment.
5,100 homes and businesses in Arnprior, 465 in Chalk River, 1,700 in Deep River (including Mountain View), 455 in Beachburg, 590…
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