Business
Cogeco announces a non-cash impairment charge related to its American telecommunications segment
Cogeco Communications Inc. and Cogeco Inc. (collectively, the "Corporations" or "Cogeco") announced today that, as part of a review of the carrying value of their assets for the third quarter of fiscal 2026, they expect to record a non-cash impairment charge of the goodwill and intangible assets related to the American telecommunications segment. The expected charge of approximately $1.7 billion (US$1.2 billion), net of deferred income taxes, is based on currently available information and estim
About this update from Cogeco Communications Inc.
MONTRÉAL, June 1, 2026 /CNW/ - Cogeco Communications Inc. and Cogeco Inc. (collectively, the "Corporations" or "Cogeco") announced today that, as part of a review of the carrying value of their assets for the third quarter of fiscal 2026, they expect to record a non-cash impairment charge of the goodwill and intangible assets related to the American telecommunications segment. The expected charge of approximately $1.7 billion (US$1.2 billion), net of deferred income taxes, is based on currently available information and estimates, and reflects the competitive environment in which Cogeco operates in the United States. This preliminary amount will be finalized and recognized in the Corporations' consolidated financial statements for the third quarter of fiscal 2026. This impairment charge is non-cash in nature and does not affect the Corporations' cash flows or day-to-day operations. Cogeco is progressing with the implementation of measures to strengthen its performance in the United States, including the growth of its wireless service and the recent launch of a new fully digital second brand (welo). Forward-looking statementsCertain statements contained in this press release constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee"; "ensure" or other similar expressions concerning matters that are not historical facts. Particularly, statements relating to the anticipated non-cash impairment charge in the third quarter of fiscal 2026, the amount of such impairment, and effect of impairment on cash flows, future operating results and economic performance, objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including assumptions, qualifications and limitations relating to the ongoing impairment analysis, final determination of the extent of the anticipated impa...
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