Industry Canada 700 MHz Spectrum Action: Quebecor Media Acquires Seven Operating Licences in Four Provinces at an Advantageou...
February 19 2014 - 5:59PM
Marketwired
Industry Canada 700 MHz Spectrum Action: Quebecor Media Acquires
Seven Operating Licences in Four Provinces at an Advantageous Price
MONTREAL, QUEBEC--(Marketwired - Feb 19, 2014) - Quebecor Media
is pleased to be among the successful bidders in the Industry
Canada 700 MHz spectrum auction held over the past several weeks.
Quebecor Media's Videotron subsidiary acquired seven operating
licences in Canada's four most populous provinces for $233 million.
The licences cover the entirety of the provinces of Québec, Ontario
(except Northern Ontario), Alberta and British Columbia, home to
more than 28 million people or approximately 80% of Canada's
population.
"The wireless network Videotron launched in the fall of 2010
already has more than 500,000 customers," noted Robert Dépatie,
President and CEO of Quebecor Media and CEO of Videotron. "With the
high-quality frequencies acquired in this auction, Videotron is now
well-equipped to develop its network in the years to come and to
continue offering its customers the best in wireless
technology."
The 700 MHz band is distinguished by its ability to penetrate
walls, an important advantage in urban areas, and its long range in
remote regions, making it the ideal band for the development of
next-generation networks, including LTE.
The spectrum package obtained by Quebecor Media consists of a
paired 5+5 MHz block in the upper 700 MHz band in each of the
following service areas: Eastern Québec, Southern Québec, Eastern
Ontario & Outaouais, Northern Québec, Southern Ontario, Alberta
and British Columbia. The $0.83/MHz POP price paid for this
spectrum compares favourably with prices paid elsewhere in the
world for similar spectrum.
"Given the way the auction unfolded, Quebecor Media could not
pass up the opportunity to invest in licences of such great
intrinsic value in the rest of Canada," said Mr. Dépatie. "We now
have a number of options available to us to maximize the value of
our investment."
Issuance of the operating licences is subject to certain
formalities. The successful bidders must make payment for the
licences and submit documents demonstrating compliance.
About Quebecor Media
Quebecor, a Canadian telecommunications, entertainment and news
media leader, is one of the best-performing integrated
communications companies in the industry. Driven by their
determination to deliver the best possible customer experience, all
of Quebecor's subsidiaries and brands are differentiated by their
high-quality, multiplatform, convergent products and services.
Quebecor (TSX:QBR.A)(TSX:QBR.B) is firmly based in Québec. It
holds a 75.36% interest in Quebecor Media, which employs nearly
16,000 people in Canada.
A family business founded in 1950, Quebecor is strongly
committed to the community. Every year, it actively supports people
working with more than 400 organizations in the vital fields of
culture, health, education, the environment and
entrepreneurship.
Visit our website: www.quebecor.com
Follow us on Twitter: twitter.com/QuebecorMedia
Martin TremblayVice President, Public AffairsQuebecor
Media514-380-1985martin.tremblay@quebecor.com
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