Cogeco Cable Inc. Announces that Atlantic Broadband Has Completed the Acquisition of the Cable System Owned by MetroCast Communications of Connecticut, LLC
Montréal, Québec and Quincy, MA, August 20, 2015 – Cogeco Cable Inc. (TSX: CCA) announced today that its wholly-owned subsidiary, Atlantic Broadband, has completed the acquisition of the cable system owned by MetroCast Communications of Connecticut, LLC (“MetroCast Connecticut”) and its parent Harron Communications, L.P. The transaction to purchase the assets was announced on June 8, 2015.
The Connecticut network passes close to 70,000 homes and businesses across nine communities in Eastern Connecticut. Its system serves approximately 23,000 TV, 22,000 Internet and 8,000 Phone customers.
“With Eastern Connecticut’s strong demographics and MetroCast Connecticut’s well-maintained networks, this acquisition brings sizeable residential and business growth opportunities. We are excited to welcome all Connecticut employees and I am also pleased to announce that Chap Hanley will be leading our Connecticut operations as Vice President & General Manager,” said Atlantic Broadband President and Chief Executive Officer, Richard Shea. “Together, we look forward to delivering the best TV, Internet and Phone services along with even more responsive local support to all the communities we will now proudly serve in Eastern Connecticut.”
“Nearly three years after our initial entry into the U.S. market, we are pleased to be continuing our geographic expansion into key growth markets,” said Louis Audet, President and Chief Executive Officer, Cogeco Cable Inc. “This transaction enhances our growth profile through the planned launch of new residential services such as TiVo and Metro Ethernet for businesses.”
With the completion of this transaction, Atlantic Broadband now has approximately 565,000 primary service units (PSU) in five operating regions, that is, Western Pennsylvania, Miami Beach, Maryland/Delaware, Aiken, S.C. and Eastern Connecticut.
ABOUT ATLANTIC BROADBAND
Atlantic Broadband, a wholly-owned subsidiary of Cogeco Cable Inc. is the 12th largest cable operator in the United States, based on the number of television service customers served. The company currently provides TV, Internet and Phone services to approximately 246,000 television service customers located in five operating regions: Western Pennsylvania, Miami Beach, Maryland/Delaware, Aiken, S.C. and Eastern Connecticut. Atlantic Broadband is headquartered in Quincy, Massachusetts. Additional information is available at www.atlanticbb.com.
ABOUT COGECO CABLE INC.
Cogeco Cable Inc. is a telecommunications corporation. It is the 11th largest cable operator in North America operating 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. Its two-way broadband fibre networks provide to its residential and business customers analogue and digital television, high speed Internet and telephony services. Through its combined subsidiaries, Cogeco Data Services and Peer 1 Hosting, Cogeco Cable Inc. provides to its business customers a suite of information technology services (data transport, colocation, cloud and managed services, and dedicated hosting), with 20 data centres as well as more than 50 points-of-presence in North America and Europe. Cogeco Cable Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).
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For more information, please contact:
Media Contacts:
|
Cogeco Cable Inc. René Guimond Vice President, Public Affairs and Communications Tel.: 514-764-4700 |
Atlantic Broadband Diane Carragher Matter Communications Tel.: 978-518-4509 |
Investor and Analyst Contact:
Cogeco Cable Inc.
Andrée Pinard
Vice President and Treasurer
Tel.: 514-764-4700