UPDATE 1-Cogeco to buy Corus’ Quebec radio stations

* Stations include Montreal, Quebec City and Sherbrooke

* Deal to close by end of 2010

(Adds details)

TORONTO, April 30 (BestGrowthStock) – Canadian cable and
telecommunications company Cogeco Inc (CGO.TO: ) said on Friday
it plans to buy 11 Quebec radio stations from Corus
Entertainment Inc (CJRb.TO: ) in a cash deal worth C$80 million
($79.6 million).

The radio stations include four in Montreal, two in Quebec
City and two in Sherbrooke. Cogeco already owns stations in
Montreal, Quebec City, Trois-Rivieres and Sherbrooke.

Cogeco said it has obtained C$100 million in financing from
Canadian banks, with a portion of it to be used to fund the
purchase.

The deal, which is subject to conditions including approval
from the Canadian Radio-television and Telecommunications
Commission, is expected to close around the end of the year.

Stock Market Research

($1=$1.01 Canadian)
(Reporting by Scott Anderson, editing by Gerald E. McCormick)

UPDATE 1-Cogeco to buy Corus’ Quebec radio stations