COGECO AND BELL GLOBEMEDIA COMPLETE TQS ACQUISITION
By Adnews Staff
Cable operator Cogeco and media company Bell Globemedia completed their acquisition of the TQS television network last week. The two companies first announced their intention to acquire Quebecor's 86% interest in TQS last fall. The companies will create a joint venture to group the TQS network with Cogeco Radio-Television's six television stations in Quebec. Cogeco will contribute its existing 13% interest in the network to the joint venture as well as $3.2 million in cash. Bell Globemedia will contribute $72 million. Cogeco will hold a 60% interest in the new entity while Bell Globemedia will hold the remaining 40%.
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