News

Cogeco to buy U.S. cable, Internet provider MetroCast Connecticut for US$200M

MONTREAL – Cogeco Cable Inc. (TSX:CCA) plans to expand its presence in the United States with a US$200 million-deal to buy the MetroCast TV, Internet and phone network in eastern Connecticut.

The purchase will be made through the Montreal-based company’s Atlantic Broadband subsidiary, which is the 13th largest cable operator in the U.S.

Atlantic Broadband operates primarily in Florida, Maryland, Delaware, South Carolina and Pennsylvania.

MetroCast Connecticut has 23,000 TV customers as well as 22,000 Internet and 8,000 phone customers.

Cogeco says its definitive agreement to buy the assets from MetroCast Communications and its parent Harron Communications LP is expected to close by the end of September, subject to regulatory approvals.