Henri Audet, a pioneer of the Canadian cable television industry, has died at the age of 94.
His son, Louis Audet – president and chief executive officer of Cogeco Inc. and subsidiary Cogeco Cable Inc. – said in a news release Monday that the elder Mr. Audet died on Saturday.
Trained as an engineer, Henri Audet left a job at the Canadian Broadcasting Corp. to start up a television station in Trois-Riviéres, Que. in 1957, selling his house and raising $100,000 from friends and other investors to do so.
He built Cogeco into a major Canadian cable and media player.
Cogeco Inc. posted sales of $1.4-billion for the year ended Aug. 31, 2012 and has 3,500 employees in Quebec and Ontario.
Henri Audet, the controlling shareholder of Cogego Inc., stepped down from the boards of both Cogeco and Cogeco Cable in 2006 at the age of 88.
In 1993, he handed over the CEO title of the parent and subsidiary companies to Louis. Three years later, he retired as chairman of the two companies.
Cogeco Cable is now Canada’s fourth largest cable television distributor.
Cogeco Inc. said in the news release that control of the company, through portfolio manager Gestion Audem Inc., remains in the hands of the Audet family.