TSXV:ZUM - Post Discussion
Post by
nozzpack on Sep 04, 2020 7:42am
Of Interest
Globe says Stingray could be in line for Cogeco assets
2020-09-04 07:36 ET - In the News
See In the News (C-RAY) Stingray Group Inc
The Globe and Mail reports in its Friday edition that a takeover bid for Cogeco Inc. and Cogeco Communications is expected to redraw the Canadian telecom and media landscape, even if the bid fails.
The Globe's Andrew Willis and Nicolas Van Praet write that a change in Cogeco's ownership would likely see Cogeco Inc.'s media holdings sold to a rival such as Stingray Group or Corus Entertainment.
Stingray would be interested in Cogeco's radio properties.
Stingray owns more than 100 radio stations in markets stretching from Vancouver to St. John's but none in its home province.
The company has ambitions to build a truly national radio presence with both French- and English-language stations, which would help increase advertising. Corus owns 39 radio stations, but as with Stingray, none is in Quebec.
Rogers is not expected to want Cogeco's radio business. "The Audets have consistently responded to inquiries that they are buyers and builders, not sellers. No one can definitively assert that the family will stay the course ... but it should not be discounted," said BMO analyst Tim Casey. "If no agreement can be reached, it would not surprise us if Rogers decides to monetize its position in Cogeco."
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