Business & Finance
Fri, February 4, 2011Thu, February 3, 2011Wed, February 2, 2011Tue, February 1, 2011Mon, January 31, 2011Sun, January 30, 2011Sat, January 29, 2011Fri, January 28, 2011Thu, January 27, 2011Wed, January 26, 2011CJEC-FM and CFEL-FM Up for Sale in Quebec City
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Published in Business and Finance on Tuesday, February 1st 2011 at 9:55 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
MONTRÉAL, QUÉBEC--(Marketwire - Feb. 1, 2011) - Following the closing of the transaction to purchase the Québec radio stations of Corus Entertainment Inc. (Corus), COGECO Inc. (TSX:CGO) announced that the control and day-to-day management of CJEC-FM and CFEL-FM in the Québec City radio market were transferred to a trustee effective today in accordance with the terms of a voting trust arrangement approved by the Canadian Radio-television and Telecommunications Commission (CRTC) on December 17, 2010.
In connection with its request for CRTC approval of its transaction, COGECO agreed to divest two of the four radio stations it would own in Quebec City if the CRTC approved the transaction within 12 months of a favourable CRTC decision. The CRTC required that COGECO entrust control and the day-to-day management of the two stations to be divested to a trustee.
The trustee, Mr. Fernand Belisle, will manage CJEC-FM Québec City and CFEL-FM Lévis/Québec City effective February 1, 2011, and oversee operations in the normal course of business while beginning the sale process for these two stations. Interested parties should contact the trustee directly at 819-743-6613.
ABOUT COGECO
COGECO is a diversified communications company. Through its Cogeco Cable subsidiary, COGECO provides its residential customers with Audio, Analogue and Digital Television, as well as HSI and Telephony services using its two-way broadband cable networks. Cogeco Cable also provides, to its commercial customers, through its subsidiary Cogeco Data Services, data networking, e-business applications, video conferencing, hosting services, Ethernet, private line, VoIP, HSI access, data storage, data security and co-location services and other advanced communication solutions. Through its Cogeco Diffusion subsidiary, COGECO owns and operates radio stations CFGL-FM (Rythme FM Montréal), CKOI-FM, CHMP-FM (98,5), CFQR-FM and CKAC-AM in Montréal, CJMF-FM (FM 93) and CFOM-FM in Québec, CJRC-FM in Ottawa-Gatineau, CIME-FM in Saint-Jérôme, CFGE-FM (Rythme FM Sherbrooke) and CKOY-FM (formerly CHLT-FM) in Sherbrooke, CJEB-FM (Rythme FM Trois-Rivières) and CHLN-FM in Trois-Rivières. COGECO's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CGO). The subordinate voting shares of Cogeco Cable are also listed on the Toronto Stock Exchange (TSX:CCA).
