Cogeco Communications Announces Decision to not Participate in the 600 MHz Spectrum Auction
Company continues to explore opportunities in the wireless market
MONTREAL, Dec. 06, 2018 (GLOBE NEWSWIRE) — Cogeco Communications Inc. (TSX: CCA) (“Cogeco Communications” or the “Company”) confirmed today that it has elected to not participate in the auction process for licenses in the 600 MHz spectrum band that will take place in 2019. The structure of the auction based on large geographic areas makes the acquisition of such spectrum uneconomical for the company. This decision is consistent with the company’s continued commitment to pursue opportunities to enter the wireless market in a disciplined and thoughtful manner.
“We continue to actively and strategically pursue opportunities to enter the wireless market in order to offer a complementary service to our customers and expand our business,” stated Luc Noiseux, Senior Vice President Strategy and Chief Technology Officer (CTO) at Cogeco Communications. “Following the acquisition of spectrum licenses earlier this year, we are committed to continue exploring various business models in order to launch a profitable wireless service.”
The company also believes that the regulatory environment should create conditions where new entrants such as Cogeco can compete successfully, and it supports the processes and consultations initiated by the federal government and regulatory agencies.
ABOUT COGECO COMMUNICATIONS INC.
Cogeco Communications Inc. is a communications corporation. It is the 8th largest cable operator in North America, operating in Canada under the Cogeco Connexion name in Québec and Ontario, and in the United States under the Atlantic Broadband name in 11 states along the East Coast, from Maine to Florida. Cogeco Communications Inc. provides its residential and business customers with Internet, video and telephony services through its two-way broadband fibre networks. Through its subsidiary Cogeco Peer 1, Cogeco Communications Inc. provides its business customers with a suite of information technology services (colocation, network connectivity, hosting, cloud and managed services), by way of its 16 data centres, extensive FastFiber Network® and more than 50 points of presence in North America and Europe. Cogeco Communications Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).
Senior Director Corporate Communications
Cogeco Communications Inc.