Cogeco Inc. announces the sale of Cogeco Métromédia
Montréal, January 5, 2016 – Cogeco Inc. announced today that its subsidiary, Cogeco Diffusion Inc., has sold Métromédia CMR Plus Inc. (“Cogeco Métromédia”) to Bell Media Inc., the owner of Astral Out of Home. Cogeco Métromédia is an out-of-home advertising company specialized in the public transit sector.
“Our experience with Cogeco Métromédia has been both positive and profitable,” stated Louis Audet, President and Chief Executive Officer, Cogeco Inc. “We have been in the media industry since Cogeco’s inception in 1957. We are very satisfied with the results of our radio segment and intend to pursue our efforts to strengthen our position in this industry.”
About Cogeco Inc.
Cogeco Inc. is a diversified holding corporation, which operates in the communications and media sectors. Through its Cogeco Cable Inc. subsidiary, Cogeco provides its residential and business customers with video, Internet and telephony services through its two-way broadband fibre networks. Cogeco Cable Inc. operates in Canada under the Cogeco Cable Canada name in Québec and Ontario, and in the United States under the Atlantic Broadband name in western Pennsylvania, south Florida, Maryland/Delaware, South Carolina and eastern Connecticut. Through Cogeco Peer 1, Cogeco Cable Inc. provides its business customers with a suite of information technology services (colocation, network connectivity, managed hosting, cloud services and managed IT services), through its 21 data centres, its extensive FastFiber NetworkTM and more than 50 points-of-presence in North America and Europe. Through its subsidiary Cogeco Diffusion, Cogeco owns and operates 13 radio stations across most of Québec with complementary radio formats serving a wide range of audiences as well as Cogeco News, its news agency. Cogeco’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CGO). The subordinate voting shares of Cogeco Cable Inc. are also listed on the Toronto Stock Exchange (TSX: CCA).
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