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Cogeco Cable Systems Inc.
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Smiths Falls, Ontario - 199712435
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1. Following a Public Hearing in the National Capital Region beginning 16 February 1998, the Commission approves the application for authority to transfer effective control of 1110761 Ontario Inc., through the transfer of the 1,000 Class B common voting shares held by Shaw Cablesystems Ltd. (Shaw) and the 15,795 preferred non-voting shares held by YTV Canada, Inc. to Cogeco Cable Systems Inc. (Cogeco).
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2. In Decisions CRTC 98-165 to 98-169 of today's date, the Commission approved applications requesting authority for a change in control and the transfer of assets of cable distribution undertakings between Cogeco and Shaw through subsidiary companies. In total, the Shaw systems to be acquired by Cogeco serve approximately 90,000 subscribers, whereas the Cogeco systems to be acquired by Shaw serve approximately 72,000 subscribers, resulting in a net payment of $50 million to Shaw from Cogeco at the closing of the transaction. This approval also forms part of the series of transactions between Cogeco and Shaw.
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3. The Commission notes that Shaw and Cogeco intend to exchange certain cable distribution undertakings in order to cluster their respective cable properties. As a result, Cogeco will concentrate its subscriber base in Southern Ontario from Oakville to Windsor and the Smiths Falls systems will enhance Cogeco's presence in the Ottawa Valley. Approval of these applications will allow both Shaw and Cogeco to implement improvements in customer service and permit upgrades to their technical infrastructures to facilitate system interconnections and the deployment of new programming services.
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This decision is to be appended to the licence.
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Laura M. Talbot-Allan
Secretary General
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This document is available in alternative format upon request.
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