Press release from Marketwire
COGECO Inc. Announces Closing of the Agreement to Acquire Metromedia CMR Plus Inc.
Thursday, January 12, 2012
COGECO Inc. Announces Closing of the Agreement to Acquire Metromedia CMR Plus Inc.13:57 EST Thursday, January 12, 2012MONTRÉAL, QUEBEC--(Marketwire - Jan. 12, 2012) - On December 6, 2011, COGECO Inc. (TSX:CGO) announced its acquisition of Métromédia CMR Plus Inc. ("Métromédia Plus"). COGECO Inc. is now pleased to announce that the customary closing terms and conditions have been met, and that the acquisition has been completed.Métromédia is a Québec company that operates an advertising representation house in the public transit sector. Métromédia represents over 100 public transit markets notably in Montréal, in other Québec regions as well as in major cities and numerous markets in the rest of Canada.Cogeco Diffusion will assume the management of Métromédia Plus, which will be headed by Richard Lachance, Senior Vice President of Cogeco Diffusion. "Combined with our portfolio of radio stations in many of Québec's markets, the addition of Métromédia Plus brings a diversification of our media operations and a higher impact media offering for our advertising partners," said Mr. Lachance.ABOUT COGECO COGECO is a diversified telecommunications 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, Web hosting services, Ethernet, private line, VoIP, HSI access, data storage, data security, co-location services, managed IT services, cloud services and other advanced communication solutions. Through it subsidiary, Cogeco Diffusion, COGECO owns and operates 13 radio stations across Québec with a variety of complementary radio formats serving a wide range of audiences. Cogeco Diffusion also operates Cogeco News, its news agency, feeding 24 independent and community radio stations across Québec, and Métromédia Plus, an advertising representation house operating in the public transit sector in Canada. 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). FOR FURTHER INFORMATION PLEASE CONTACT: Director, Corporate CommunicationsNicole TardifTel: (514) 764-4685