TORONTO – Cogeco Data Services has joined forces with the Alpha Group on a new managed network infrastructure called Secure Consolidated Network Infrastructure (SCNI).
SCNI will provide customers with a fully managed connectivity solution supporting sub-millisecond access to Canadian equity markets.
Alpha said that it is providing the new SCNI network to increase trading frequency, decrease costs and simplify network connection requirements for customers accessing the Canadian equity markets and related services. The network will use a fully managed, dedicated fibre ring utilizing wavelength division multiplexing based transport technology.
www.cogecodata.comwww.alphatradingsystems.ca
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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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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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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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TORONTO – Could Rogers and Cogeco be joining forces?
Rogers announced Thursday that it has purchased 3.2 million subordinate voting shares of Cogeco Cable, and 1.62 million subordinate voting shares of Cogeco Inc., in cash purchase prices of $116.6 million and $46.4 million respectively, exluding commissions.
In the announcement, Rogers said that it is acquiring the shares “for investment purposes”, and that it has “no current intention of acquiring ownership of or control or direction” over any additional shares at this time.
The deal means that Rogers now owns 9.79 million subordinate voting shares of Cogeco Cable, or approximately 29.8% of the…
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MONTREAL – Cogeco Cable said that it is broadcasters’ “rampant spending to purchase major US network programming” that is at the real root of what ails the industry, not simply the erosion of market share and advertising revenue.
In a statement released after its appearance at the CRTC hearings Tuesday, the cable co said that granting broadcasters the right to charge compensation for signal “would be irresponsible and inappropriate”.
"Compensation for signal is only a partial and inappropriate solution to a much broader problem," said president and CEO Louis Audet, in a statement. "We are entitled to ask why the broadcasters…
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MONTREAL – Cogeco Cable has added three new service packages to its home phone service.
The ‘basic line’ package includes unlimited local calling; the ‘select’ package includes unlimited local calling, the choice of two calling features and 100 long distance minutes in Canada and the U.S.; while the ‘freedom’ package offers unlimited local calling, the choice of five calling features and unlimited long distance calling in Canada and the U.S.
"Cogeco Home Phone truly is what our customers are looking for: flexibility, choice and competitive price”, said Ron Perrotta, VP of marketing and strategic planning, in the announcement. “Plus, there are…
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MONTREAL – Following the lead of its peers, Cogeco Cable’s Canadian operations continued to grow during the recession, the company reported today. The company continues to struggle in Portugal, although it is reporting some positive indications there.
Fourth quarter 2009 consolidated revenue increased by 8% to reach $307.8 million, when compared to the corresponding period of the prior year. Driven by increased revenue-generating units combined with rate increases and the financial results generated by the acquisition of Cogeco Data Services in the last quarter of fiscal 2008, fourth-quarter Canadian operations revenue went up by $34.8 million, or 15.8%.
However, the company’s…
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