MONTREAL, Dec. 5 /CNW Telbec/ - COGECO Inc. (TSX: CGO) has confirmed that Cogeco Radio-television Inc. ("CRTI") will not exercise its right to purchase the 40% interest that CTV Television Inc. ("CTV") holds in 3947324 Canada Inc. ("TQS Holdco"), the company that owns TQS Inc., following a change of control of Bell Globemedia Inc. on August 31, 2006 that triggered the right for CRTI to acquire all the shares of CTV in TQS Holdco.
Furthermore, CRTI, CTV and TQS Holdco have amended the Shareholder's Agreement to postpone the beginning of the Second Put Option Period provided in the Agreement from February 15, 2007 to January 1, 2009.
COGECO is a diversified communications company. Through its Cogeco Cable subsidiary, COGECO provides about 1,556,000 revenue-generating units (RGU) to approximately 1,477,000 homes passed in its Canadian service territory and 629,000 RGUs to approximately 826,000 homes passed in its Portuguese service territory. Through its two-way broadband cable networks, Cogeco Cable provides its residential and commercial customers with analog and digital video and audio services, High Speed Internet access as well as Telephony services. Through its Cogeco Radio-Television subsidiary, COGECO holds a 60% interest and operates the TQS network, six TQS television stations, and three French CBC-affiliated television stations in partnership with CTV Television. Cogeco Radio-Television also wholly owns and operates the RYTHME FM radio stations in Montreal, Quebec City, Trois-Rivieres and Sherbrooke as well as the 93.3 station in Quebec City. COGECO's subordinate voting shares are listed on the Toronto Stock Exchange (CGO). The subordinate voting shares of Cogeco Cable are also listed on the Toronto Stock Exchange (CCA).