Amos, January 7, 2020. – Pierre Karl Péladeau, President and CEO of Quebecor, and Jean-François Pruneau, President and CEO of Videotron, were in Amos today to meet with Cable Amos employees. Quebecor subsidiary Videotron recently signed an agreement to acquire the family business.
« The Dufresne family has left a lasting mark in Abitibi. They have been a part of daily life here since the founding of Cable Amos in 1957. That is one of the reasons this transaction fills us with pride. Like Quebecor, Cable Amos is a family business and we are very happy to be joining forces with them to serve Abitibi residents », said Pierre Karl Péladeau.
« Today is a big day for Videotron. We are proud and excited to be offering our services here. Today we had a chance to meet the Cable Amos employees with whom we look forward to working. My conversations with local residents confirmed what we’ve been hearing for months: Abitibians are as excited as we are that Videotron will soon be coming to their homes », said Jean-François Pruneau.
« “When we decided it was time to pass the torch, we immediately picked Videotron as the best option for our region and the company best placed to keep our business successful. Cable Amos has been a family business for two generations and we are happy to see another family business take over.” said Cable Amos management.
The acquisition is expected to close in spring of 2020. It is subject to approval from Innovation, Science and Economic Development Canada and to customary conditions. Videotron representatives will then go to present Videotron’s products to residents in Cable Amos’ service area and start carrying out installations.
Videotron had already planned to offer its products and services in other parts of the region by connecting to Cablevision’s network. With this acquisition, the Quebec telecom leader will be able to serve an even greater number of Abitibi-Témiscamingue residents.
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Videotron (www.videotron.com), a wholly owned subsidiary of Quebecor Media Inc., is an integrated communications company engaged in cable television, interactive multimedia development, Internet access, cable telephone and mobile telephone services. Videotron is a leader in new technologies with its Helix home entertainment and management platform. As of September 30, 2019, Videotron was serving 1,545,200 cable and IP television customers, and 443,500 subscribers to its Club illico over-the-top video service. Videotron is also the Quebec leader in high-speed Internet access, with 1,724,300 subscribers to its cable service as of September 30, 2019. As of the same date, Videotron had 1,288,700 subscriber connections to its mobile telephone service and was providing cable telephone service to 1,052,700 Quebec households and organizations. Videotron has been recognized as one of Canada’s top 100 employers and one of Montréal’s top employers.