MONTREAL – First quarter net income at Cogeco Inc, jumped 47.4% to $4.6 million compared to the same period last year.
This increase in the first three months of fiscal 2006, ended November 30th, 2005, is mainly attributable to the cable sector, which benefits from increased digital video services, high-speed Internet (HSI) and digital telephony penetration as well as rate increases. Higher radio advertising revenue also helped.
Net additions of Cogeco Cable basic customers were approximately 10,900 compared to about 7,700 for the same period last year. “The sustained appetite for digital video and HSI services continues to prevail…
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MONTREAL – Quebec MSOs are hungry for French-language digital channels, so Astral Media’s newest pay channel, dedicated to classic films, cinépop, has been added to the cable lineup in Cogeco’s Quebec territories.
“Adding cinépop to our line-up really increases the added value of Cogeco Cable’s digital cable service. Besides offering superior sound and picture quality and being adaptable to the customer’s taste, digital cable television now offers enriched French-language content,” said Ron Perrotta, Cogeco’s vice-president, marketing.
The cinépop channel is offered free starting today, for a three-month period, at position 305. At the end of that period, on March…
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TORONTO – Growth in cable, Internet, and telephony subscribers has led Cogeco Cable to predict a 36% increase in net income in 2006, the company announced at its annual shareholders’ meeting.
And the company is exploring adding wireless, like competitor Vidéotron will do in Quebec when it launches mobile phone services through Rogers, CEO Louis Audet told reporters.
Net income in 2005 nearly tripled, to $28.7 million, compared with a net loss of $32 million in 2004. Cogeco predicts net income will rise to $39 million in fiscal 2006.
In 2005, the company lost 2,400 basic cable subscribers, but…
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MONTREAL – Cogeco Cable’s Gary Pelletier has been promoted to director, product marketing.
In his new position, Pelletier will be responsible for the overall acquisition and retention strategy, product, pricing and promotion for the cable television and high speed Internet businesses. His duties also include overseeing the development and management of the on demand platform and commercial services product marketing support.
www.cogeco.ca
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MONTREAL – Cogeco Cable launched its Digital Phone service to most of its Hamilton region today.
“Like the residents of Burlington, Oakville, Windsor and Kingston, Ontario, and of Trois-Rivières, Drummondville and Saint-Hyacinthe, Québec, the majority of Hamilton residents will be able to enjoy this appealing offer, starting today, whether or not they already subscribe to a Cogeco Cable service. Service will be extended gradually to the rest of Hamilton city homes and will continue to be rolled out to most cities in Cogeco Cable’s territories by the end of 2006,” says the press release today.
Cogeco is the third…
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MONTREAL – While Cogeco Inc.’s radio division (RYTHME FM) continues to grow, the company’s TV broadcast outlet, TQS, struggled through 2005.
However, with new shows, the company is hoping to turn TQS around and has invested in some populist (some might say low-brow) reality shows. All part of the plan, however. “In television, TQS’s commitment to its ‘black sheep’ positioning is stronger than ever. The channel’s bold programming is blazing new trails for conventional television in an environment that is fiercely competitive and constantly changing,” reads the company’s third quarter results press release.
Loft Story II (a French Big…
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MONTREAL – Beating its guidance and re-setting projections going forward, fiscal 2005 finished pretty well for Cogeco Cable.
While its media side didn’t perform as strongly, all of the company’s cable financial and subscriber goals were met or exceeded for the year ended August 31st. Operating income before amortization rose 11.9% while net income finished 30% higher than forecast at $28.7 million. Free cash flow was $45.3 million, within the projected range, even with a pretty big ramp-up in telephony spending. CFO Pierre Gagne said in a conference call with financial analysts that without the voice over Internet…
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MONTREAL – Fourth-quarter revenue climbed by $9.6 million, or 6.2%, over the same period last year at Cogeco Inc., but poor performance on the company’s broadcast TV side dragged down its overall results.
The improved penetration of high-speed Internet services (HSI) and higher rates for cable TV services are mainly responsible for this increase. Net income came in at $600,000, or $0.04 per share, compared to $2.1 million or $0.13 per share in the previous fiscal year. “The net income dropped due to a reduction in operating income before amortization in the media sector,” says today’s press release.
"Among the…
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MONTREAL – With published reports (including one here) saying that Cogeco is about to expand into Portugal through a major acquisition, CEO Louis Audet said this morning the company has actually looked into eight European expansion opportunities involving 10 countries.
Responding to what he called “rumors and speculation about alleged acquisition plans,” Audet read a prepared statement this morning about the company’s European expansion possibilities. He cautioned against advancing such theories and said he had nothing specific to announce.
“Wild speculation is never a good thing,” said the CEO during his quarterly conference call with financial analysts.
Noting that…
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MONTREAL – Cogeco Cable announced today that it is adding Warner Bros programming to its video on demand service.
The cable company has signed an agreement with Warner Bros International Television Distribution (WBITD) to add new titles and classic movies.
WBITD will provide Cogeco Cable with box office hits such as Million Dollar Baby, Alexander, and soon Sisterhood of the Traveling Pants, Batman Begins and Harry Potter and the Goblet of Fire as well as many other titles from its extensive library.
Cogeco Cable customers can now choose from over 1,000 hours of programming including new movies, classics and…
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