MONTREAL and TORONTO – After the close of trading on Friday, Cogeco Cable announced it has reached a definitive agreement to acquire all of the shares of Toronto Hydro Telecom, the telecommunications subsidiary of Toronto Hydro Corporation for $200 million.
The deal is subject to certain conditions, including regulatory approval by the commissioner of Competition. The purchase price represents a 9.6 multiple of the projected fiscal 2008 EBITDA of THTI. In addition, Cogeco Cable will assume a working capital deficiency and liabilities of approximately $4 million.
THT offers data communications and other telecommunications services such as Ethernet, private line,…
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MONTREAL – Cogeco Cable promoted 10 people internally during the months of May and June 2008.
They are as follows:
Ron Perrotta, who has been Vice President, Marketing of Cogeco Cable since 2002, is appointed Vice President, Marketing and Strategic Planning. In this expanded role, he will also be responsible for Cogeco Cable’s strategic planning.
Gary Pelletier is appointed Director, International Markets. In this role, he will be Cogeco Cable’s prime liaison with its current and potential assets abroad. Pelletier joined Cogeco Cable in 2003 and was previously Director, Product Marketing – Cable Television and High Speed Internet.
Louise Desilets…
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MONTREAL – Cogeco Cable launched its Quebec Wi-Fi Internet access service today in Trois Rivieres.
As in Ontario, the company is offering this new service at no additional charge to its Québec High Speed Internet (HSI) subscribers.
“We’re delighted to be able to bring this new service to our HSI customers,” said Ron Perrotta, vice-president, marketing, in the press release. “Wi-Fi continues to grow in popularity as more and more people need an Internet connection for work or school or to surf the web wherever they are. This is real value added for our current subscribers and an easy…
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MONTREAL – Cogeco Cable has added two high definition (HD) channels to its Quebec channel lineups: RDI HD and ARTV HD.
“With 19 HD channels, including 13 French-language channels, Cogeco offers more French HD channels than any other provider in its Québec territory," said Ron Perrotta, vice-president, marketing.
RDI HD is Radio-Canada’s French-language 24/7 news channel while ARTV HD is a French-language culture and lifestyle channel featuring live shows, movies, documentaries, series and journals and is co-owned by Radio Canada (44%), Télé-Quebec (25%), CTVglobemedia (16%) and ARTE France (15%).
The two new channels will be provided at no additional…
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BURLINGTON – Cogeco Cable has reached a definitive agreement to acquire all the assets of FibreWired Burlington Hydro Communications, Burlington Hydro Electric Inc.’s telecommunications division.
The purchase price was not disclosed.
FibreWired Burlington Hydro Communications, which operates a broadband network equipped with next generation ATM and Ethernet technology, provides Burlington organizations with broadband capacity for data networking, high-speed Internet access, hosting services, ebusiness applications, video conferencing and other advanced communications.
This is the second municipally owned telecom net Cogeco has bought this past month, having recently agreed to acquire MaXess in Windsor.
Cogeco Cable will use the Burlington network to…
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MONTREAL – Cogeco Inc. earned $15.9 million in the second quartered ended February 29 as revenues improved 14%, or $33.5 million, to $271.9 million.
That compares with a profit of $34.5 million on revenues of $238.4 million a year ago. But the results a year ago included a one-time gain of $31 million.
In cable, revenue-generating units (RGUs) reached 2,624,885 with 56,196 net additions in the quarter.
The number of net additions to basic cable in the Canadian market stood at 1,869 customers compared to a growth of 5,277 customers for the same period last year due to the…
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MONTREAL – Cogeco Cable said Thursday it had expanded its phone service to Ridgeway, Ontario.
The phone service costs $44.99 a month for customers who also take Cogeco’s high-speed Internet and TV services. Cogeco also has an introductory offer of $10 off per month for a year to subscribers who take the triple-play bundle.
Cogeco’s phone service includes unlimited calling in Canada and the continental United States, and features such as voice mail, call display, call waiting, visual call waiting and call forwarding.
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MONTREAL – Cogeco Cable said Tuesday it had completed the acquisition of MaXess Networx, EnWin Energy Ltd.’s telecommunications division in Windsor. The sale was announced on March 11, 2008.
“The completion of this acquisition represents a significant step for Cogeco Cable because it strengthens Cogeco Business Solutions Data services,” said Cogeco Cable president and CEO Louis Audet. “We feel it really represents a win-win situation, where both MaXess and Cogeco Cable customers will benefit from the new expertise the acquisition of MaXess brings. This acquisition is also perfectly in line with our growth strategy.”
Maxess Networx operates a broadband…
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MONTREAL – Cogeco Inc. announced Tuesday that it has been entirely released, without costs, from its obligations to CIBC as guarantor of Groupe TQS, contracted on December 14, 2008.
The release of Cogeco follows the repayment by Remstar Corporation of all sums owed by Groupe TQS to CIBC, Cogeco said in a statement.
Remstar won the bidding competition for the financially-troubled Quebec TV network earlier this month, and is now in the process of finalizing details of the purchase and presenting its proposals to creditors. TQS is 60% owned by Cogeco and 40% by CTVglobemedia.
Creditors will vote on…
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MONTREAL – Cogeco Cable announced today the launch of its Digital Phone service in Bic, Sainte-Luce, Ste-Blandine et St-Fabien, St-Gédéon and St-Martin-de-Beauce, Québec.
Residents can now take advantage of Cogeco Cable’s all-inclusive Digital Phone offer for as little as $39.99 per month if they subscribe or are already a subscriber to Cogeco Cable’s high speed Internet and/or cable television service.
www.cogeco.ca
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