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Cogeco Communications Inc
Symbol C : CCA
Shares Issued 33,927,635
Close 2019-06-05 C$ 93.14
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Cogeco plans to spend $1B expanding Ont., Que. networks

2019-06-05 11:30 ET - News Release

Ms. Marie-Helene Labrie reports

COGECO COMMUNICATIONS ANNOUNCES PLANS TO INVEST MORE THAN $1 BILLION IN THE OPERATION AND EXPANSION OF ITS BROADBAND NETWORK IN ONTARIO AND QUEBEC

Cogeco Communications Inc. plans to invest more than $1-billion over the next four years in the operation and expansion of its Canadian hybrid fibre coaxial cable network, in order to pursue its growth and to extend its regional high-speed Internet coverage across Ontario and Quebec.

Through its Canadian subsidiary, Cogeco Connexion, Cogeco Communications offers Internet service at speeds greater than 120 megabits per second across more than 400 municipalities in the two provinces, is rolling out one-gigabit-per-second Internet speeds and continuously aims to deliver a state-of-the-art, personalized video experience, while preparing its entry into the wireless services market.

"Thanks to the strong local presence we've been building for the past 60 years, we can gauge first-hand just how important high-speed Internet connectivity is for communities and are delighted to be working closely with so many municipalities and towns to extend and enhance our network so that we can deliver ultrahigh-speed connectivity to as many residents, families and businesses as possible," said Philippe Jette, president and chief executive officer of Cogeco Inc. and Cogeco Communications. "We welcome the renewed commitment on the part of the different levels of government to accelerate this type of investment and intend to participate actively in the various government programs and incentives put forward to support high-speed Internet access to unserved and underserved communities."

With this major investment and the billions of dollars already invested in serving its residential and business clients, Cogeco continues to bolster its leadership position in regional areas and provides strong support to Ontario's and Quebec's regional and rural economic development and efforts to increase competitiveness for companies and workers.

Recently announced programs include the federal government's universal broadband fund and accelerated investment incentive, the CRTC's broadband fund, the Quebec government's Quebec haut debit program, and the funds available under the Ontario government's newly announced broadband and cellular strategy.

About Cogeco Communications Inc.

Cogeco Communications is a communications corporation. It is the eighth-largest cable operator in North America, operating in Canada under the Cogeco Connexion name in Quebec and Ontario and along the east coast of the United States under the Atlantic Broadband brand (in 11 states from Maine to Florida). The corporation provides residential and business customers with Internet, video and telephony services through its two-way broadband fibre networks.

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