TORONTO — One year ago, the owner of U.S.-based MVPDs Atlantic Broadband and some 23 radio stations across Quebec and Ontario escaped a hostile takeover bid that saw Rogers Media team with Altice USA for a $8.4 billion CDN offer that expired without execution.
Today, Cogeco remains a major media force in the markets where it owns stations, including Montréal. And, thanks to the ongoing recovering from a difficult pandemic, the company’s revenue grew by nearly 5% in its fiscal Q4. The problem? Adjusted EBITDA declined by 2.1% as Free Cash Flow tumbled by 34%.