Cogeco’s Atlantic unit completes USD1.4bn MetroCast takeover

8 Jan 2018

Canadian cable operator Cogeco Communications has announced that its subsidiary Atlantic Broadband has completed the USD1.4 billion acquisition of cable systems owned by Harron Communications, and operated under the MetroCast brand name. As part of the transaction, Caisse de Depot et Placement du Quebec (CDPQ) paid USD315 million for a 21% interest in Atlantic Broadband’s holding company.

With the completion of this transaction, Atlantic Broadband – which claims to be the ninth largest US cableco in terms of pay-TV customers – will expand its operations across eleven states on the east coast of the US. Starting in spring of 2018, MetroCast will begin offering a suite of enhanced services under the Atlantic Broadband brand name. On a pro forma basis, the combined company is expected to generate over USD710 million in combined revenue.

United States, Breezeline (formerly Atlantic Broadband), Cogeco Connexion, MetroCast