The CEO of Montreal-based Cogeco Cable (TSX:CCA) has said his company is looking to make more acquisitions in the US following its MetroCast Connecticut purchase, which closed in August.
The CEO of Montreal-based Cogeco Cable (TSE:CCA) has said his company is looking to make more acquisitions in the US following its MetroCast Connecticut purchase, which closed in August.
Louis Audet told The Globe and Mail that there were many smaller US cablecos that Cogeco could seek to buy, and that its US operations could eventually exceed the size of its Canadian business.
He tempered his remarks by adding that the company would need time and capital to do transactions and that it would not “do anything stupid.”
Audet said the US expansion drive was the result of a lack of domestic acquisition opportunities.
Agreed in June, the US$200m purchase of MetroCast Connecticut from Harron Communications was a bolt-on to Cogeco’s US subsidiary, Atlantic Broadband, which it acquired in 2012 for US$1.36bn.
The US cable sector is undergoing a wave of consolidation, with Charter Communications and Altice leading the way. As the US’s 12th largest cable operator, Atlantic Broadband is looking at considerably smaller acquisitions and could over time become a target itself.