Quarterly results reporting begins this week
By Greg O’Brien
TORONTO – Both Cogeco Inc. and Shaw Communications will release their fiscal 2020 second quarter results this week, but since their quarters ended February 29th, those numbers will resemble more of a time capsule than an account of what is going on in the market right now and the real news will be what the companies have to say about what’s happened since with the Covid-19 crisis.
“We believe Canadian telcos and cablecos remain structurally sound and even after our target price revisions, we believe the sector will provide investors attractive potential total…
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By Steve Faguy
MONTREAL — What’s an all-traffic radio station to do when there’s no traffic? Don’t bother.
Cogeco Media’s Radio Circulation 730 AM in Montreal, which has been running all-day traffic updates since 2011, has replaced its programming with a rebroadcast of sister talk station 98.5 FM this week, as Quebecers stay home to help fight the Covid-19 pandemic.
“It’s a temporary situation caused by the absence of traffic,” explained Cogeco Media communications director Christine Dicaire. “Everything will be back to normal once people are back on the roads.”
With schools and non-essential businesses closed, international travel prohibited and even travel between…
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MONTREAL — Cogeco Connexion, reported Tuesday its self-install kits for Internet and TV services have become increasingly popular with customers during the Covid-19 pandemic, and the company is encouraging other customers to follow suit.
This self-installation approach is recommended in the context of the current pandemic in order to ensure the safety of all, says the news release. The cable company’s self-install kit contains all the equipment and instructions necessary for self-installation of new products and services.
“Although the context is particular, it is extraordinary to see how creative our Cogeco employees have been and how we were able to…
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TORONTO — With Rogers Media’s free preview of its FX specialty channel now extended until May 11, the broadcaster announced the new Mrs. America limited series starring Cate Blanchett will premiere in Canada on FX and online on FX Now starting April 15.
The nine-part miniseries, featuring Blanchett as conservative firebrand Phyliss Schlafly, tells the story of the movement to ratify the Equal Rights Amendment (ERA), and the unexpected backlash it brought about. Portraying some of the most iconic women of the era, the cast also includes Rose Byrne (Bridesmaids) as Gloria Steinem, Margo Martindale (American Crime Story) as Bella…
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OTTAWA – CBC/Radio-Canada has announced it is delivering special access to content across all of its platforms, including news, educational resources for kids and parents, and a wide variety of programming to keep Canadians entertained when they need a break.
“The situation continues to change each day. Canadians need to know what’s happening and to understand what it means for them and for their family and friends. Our news teams are working around the clock to keep all Canadians on top of the latest developments here in Canada and around the world,” said CBC CEO Catherine Tait in a statement.
“We’re…
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MONTREAL – Cogeco Inc. announced today it has temporarily laid off 130 employees in its media division thanks to advertising pullbacks due to the Covid-19 crisis.
The company owns 23 radio stations in Quebec and Ontario, including the popular Rythme FM brand. The cutbacks make up around 20% of the division’s workforce.
“This difficult decision was made in the context of an unprecedented economic crisis that is causing a meltdown of the advertising market which is the source of revenues for our stations,” said a company spokesperson to Cartt.ca.
The crisis has not yet affected the company’s primary businesses, which is broadband…
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Canadian communications giant dead at 85
CALGARY – Shaw Communications founder, executive chair and former CEO JR Shaw is being remembered not only as a pioneering cable and telecom builder, but a family man, philanthropist, and a one-of-a-kind gentleman who inspired deep loyalty and unity.
Known throughout the North American communications industry simply as JR, Shaw was a pioneer in Canadian business and a Canadian telecommunications sector visionary. He passed away in his sleep Tuesday at the age of 85.
“My family and I are at a loss for words and are deeply saddened at JR’s passing,” said Brad Shaw, CEO of…
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TORONTO — Corus Entertainment has provided an update regarding its response to the Covid-19 outbreak, while also trying to address rumours circulating regarding the company’s liquidity and compliance with its loan covenants.
In the company’s Covid-19 update, Corus president and CEO Doug Murphy says the company remains committed to delivering high-quality news and entertainment programming across multiple platforms to audiences across the country.
“The health, safety and well-being of our people is our utmost priority. We’ve focused the support efforts of our internal technology team to enable as many people as possible to work from home. For those job functions…
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MONTREAL – “Our teams at Cogeco across Quebec, Ontario and the U.S. East Coast are all working tirelessly to ensure our customers’ connectivity and their access to information and entertainment,” said Philippe Jetté, company president and CEO in a Friday press release.
“More than ever, access to our Internet, TV, telephony and radio broadcast services are of paramount importance for the communities that we serve, and I thank all our employees and partners for their commitment and resilience.”
All of Cogeco’s office employees transitioned to working from home over the past several days, the release explained. For employees who must work…
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TORONTO — With people practicing social distancing, businesses cutting hours and services, Canadians staying home to work or self-isolate while the stock markets slide in unprecedented fashion due to the effects of COVID-19, Scotiabank this week released an analysis of where it sees both negative and positive effects when it comes to the telecom and media spaces.
“Over the past week, the initial COVID-19 concerns have expanded dramatically from global device supply chain issues to an unprecedented level of domestic consumer and business disruptions. The equity sell-off in the sector has been indiscriminate,” reads the research note to investors from…
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