Rogers buys Source Cable for USD142m

Source Cable, the last remaining independent cable TV network operator in Hamilton, Ontario, has been sold to national giant Rogers Communications for CAD160 million (USD142 million) in a deal expected to close this quarter, reports The Hamilton Spectator. Source Cable provides TV, internet and telephony to around 26,000 homes with 43,000 revenue-generating units (RGUs), while Rogers stated that the purchase means the cable giant will have about 60,000 customers in Hamilton. The paper notes that going forward Hamilton’s cable subscribers will be served by Cogeco and Rogers, co-owners of Cable 14.

Thanks to TeleGeography for the article.

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