Press release from Marketwire
Welcome to the "Amphitheatre Cogeco"
Tuesday, December 17, 2013
Welcome to the "Amphitheatre Cogeco"14:00 EST Tuesday, December 17, 2013
TROIS-RIVIÈRES, QUÉBEC--(Marketwired - Dec. 17, 2013) - Yves Lévesque, Mayor of Trois-Rivières, and Daniel Cournoyer, member of the Board of the Corporation de l'amphithéâtre de Trois-Rivières ("the Corporation"), announced today the reaching of an agreement with Cogeco Inc. (TSX:CGO) ("COGECO"), whereby the Trois-Rivières amphitheatre, which is currently under construction, will be known as the "Amphithéâtre Cogeco." The agreement, valid for a five-year period from the scheduled opening of the amphitheatre in the spring of 2015, includes three optional five-year extensions, which could bring the duration of the agreement to 20 years.
"Cogeco is paving the way for all stakeholders in the private sector who wish to participate in the great project that is the Amphithéâtre Cogeco," stated Mr. Cournoyer. "Following the commitment made by the two senior governments in 2009, this is a wonderful example of a major private company contributing to the cultural life of Trois-Rivières and the Mauricie region."
For Mayor Lévesque, who had promised "a name before the Holidays," today's announcement is a logical development. "The Corporation de l'amphithéâtre and Cogeco are, for all intents and purposes, natural partners, with the amphitheatre being the biggest project in the Mauricie region in recent history, and Cogeco being the largest company from Trois-Rivières. Between its radio stations, its cable distribution service, TVCogeco and its regional head office on Boulevard Saint-Jean, Cogeco is a company that is very active in our area," stated Mayor Lévesque.
For COGECO, this agreement is highly symbolic and has very special meaning, since Trois-Rivières is the company's birthplace. "We are delighted that the amphitheatre will bear the Cogeco name," stated Louise St-Pierre, President and Chief Executive Officer of Cogeco Cable Canada. "Cogeco was founded more than 56 years ago in Trois-Rivières, where it blossomed and developed into the internationally recognized company it is today. Today, Cogeco Cable Canada is one of the largest employers in the region, and we are very proud to be the main sponsor of the Amphithéâtre Cogeco, as it will serve as a building block supporting the development of the entire Mauricie region."
Richard Lachance, President and Chief Executive Officer of Cogeco Diffusion, added: "With our two radio stations in Trois-Rivières as well as our other stations across Québec, Cogeco Diffusion will be a proud supporter of the Amphithéâtre Cogeco. Our teams at 106.9FM and Rythme Mauricie 100.1 have always been very involved within our region and this announcement will inspire us to continue to contribute to the cultural development of the Greater Trois-Rivières area."
The amphitheatre represents a $49.5-million investment, with the governments of Québec and Ottawa contributing $26 million in equal shares. The amphitheatre is scheduled to open in the spring of 2015.
ABOUT THE CITY OF TROIS-RIVIÈRES
Founded in 1634, Trois-Rivières has a population of 133,000 inhabitants. It is the second-oldest city in Québec and the ninth most populous in the province. The current city was created from a municipal merger in the fall of 2001, and its first mayor, Mr. Lévesque, is still in office. Steeped in history and culture, this city is an important hub for tourism, conferences, education, and healthcare and boasts a university, port and airport. Trois-Rivières is positioning itself for the future with projects enhancing its development, such as a riverside amphitheatre, which will be able to accommodate 9,000 people, with 3,500 covered seats.
ABOUT THE CORPORATION DE L'AMPHITHÉÂTRE DE TROIS RIVIÈRES
The amphitheatre project, whose development began in 2000, is located on one of the most beautiful sites in Québec, at the confluence of the Saint-Maurice and the Saint-Laurent rivers. The city purchased the property in 2007 and, two years later, contributions from the higher levels of government ($26 million) provided the support needed for the project to move forward. In May 2010, the Corporation de l'amphithéâtre was created. Its key objectives were, and remain, the implementation of a management, programming, and operation structure, as well as solicitation for programming, marketing and public relations activities for the amphitheatre.
ABOUT COGECO INC.
COGECO (www.cogeco.ca) is a diversified communications corporation. Through its Cogeco Cable subsidiary, COGECO provides to its residential and business customers Analogue and Digital Television, High Speed Internet («HSI») and Telephony services. Cogeco Cable operates in Canada under the Cogeco Cable brand name in Quebec and Ontario, and in the United States through its subsidiary, Atlantic Broadband in Western Pennsylvania, Southern Florida, Maryland/Delaware and South Carolina. Through its subsidiaries, Cogeco Data Services and PEER1 Hosting, Cogeco Cable provides to its commercial customers, a suite of IT hosting, information and communications technology services (Data Centre, Co-location, Managed Hosting, Cloud Infrastructure and Connectivity) with 20 data centres, extensive fibre networks in Montreal and Toronto as well as points-of-presence in North America and Europe. Through its subsidiary, Cogeco Diffusion, COGECO owns and operates 13 radio stations across most of Quebec with complementary radio formats serving a wide range of audiences as well as Cogeco News, its news agency. Cogeco Diffusion also operates Métromedia, an advertising representation house specialized in the public transit sector that holds exclusive advertising rights in the Province of Quebec where it also represents its business partners who are active across other Canadian markets. 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:
City of Trois-Rivieres
Cogeco Cable Canada
(819) 379-2443, extension 3640
Director, Corporate Communications
Cogeco Cable Inc.