Videotron concerned about CRTC's historic reduction in Internet access rates for resellers

MONTRÉAL, Aug. 21, 2019 /CNW Telbec/ - Videotron has reacted to the CRTC decision on Internet access rates for resellers by calling for caution and expressing concern about the decision's potential economic impact.

"It has been clearly established that a strong digital economy, supported by powerful networks, promotes the economic development of our communities, and we are concerned about the long-term consequences that delays in investments may have for the country," commented Jean-François Pruneau, President and CEO of Videotron.

Videotron estimates the retroactive costs of the rate cut at around $50 million. The company will take time to assess all available options.

Videotron (www.videotron.com), a wholly owned subsidiary of Quebecor Media Inc., is an integrated communications company engaged in cable television, interactive multimedia development, Internet access, cable telephone and mobile telephone services. Videotron is a leader in new technologies with its illico interactive television service and its broadband network, which supports high-speed cable Internet access, digital cable television, and other services. As of June 30, 2019, Videotron was serving 1,558,400 cable television customers. The Club illico over-the-top video service had 431,000 members. Videotron is also the Québec leader in high-speed Internet access, with 1,706,900 subscribers to its cable service as of June 30, 2019. As of the same date, Videotron had 1,193,600 subscriber connections to its mobile telephone service and was providing cable telephone service to 1,072,900 Québec households and organizations. Videotron places on the prestigious Canada's Top 100 Employers and Montréal's Top Employers lists.

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SOURCE Videotron