Rogers buys Source for $160 million

News Oct 24, 2014 Hamilton Mountain News

Rogers has confirmed it has purchased Source Cable.

The company confirmed to Canadian Press it bought Hamilton’s last remaining independent cable company for $160 million.

The deal had been rumoured for weeks, but neither company would respond to Mountain News inquiries about the sale.

Source Cable has about 18,000 customers, according to the company’s website.

Rogers says the acquisition of Source, which has its head office on Upper Wellington, will give it access to 26,000 potential households in the area.

The transaction is expected to close in the fourth quarter, according to CP. Source Cable was founded by the Campbell family in 1974 under the name Southmount Cable Ltd.

Source Cable has been the lone family-owned cable company in Hamilton since Mountain Cablevision, founded in 1959 by Owen Boris, was sold to Shaw in 2009 for $300 million.

Rogers purchased the system and its 40,000 cable customers from Shaw in 2013.

Rogers buys Source for $160 million

News Oct 24, 2014 Hamilton Mountain News

Rogers has confirmed it has purchased Source Cable.

The company confirmed to Canadian Press it bought Hamilton’s last remaining independent cable company for $160 million.

The deal had been rumoured for weeks, but neither company would respond to Mountain News inquiries about the sale.

Source Cable has about 18,000 customers, according to the company’s website.

Rogers says the acquisition of Source, which has its head office on Upper Wellington, will give it access to 26,000 potential households in the area.

The transaction is expected to close in the fourth quarter, according to CP. Source Cable was founded by the Campbell family in 1974 under the name Southmount Cable Ltd.

Source Cable has been the lone family-owned cable company in Hamilton since Mountain Cablevision, founded in 1959 by Owen Boris, was sold to Shaw in 2009 for $300 million.

Rogers purchased the system and its 40,000 cable customers from Shaw in 2013.

Rogers buys Source for $160 million

News Oct 24, 2014 Hamilton Mountain News

Rogers has confirmed it has purchased Source Cable.

The company confirmed to Canadian Press it bought Hamilton’s last remaining independent cable company for $160 million.

The deal had been rumoured for weeks, but neither company would respond to Mountain News inquiries about the sale.

Source Cable has about 18,000 customers, according to the company’s website.

Rogers says the acquisition of Source, which has its head office on Upper Wellington, will give it access to 26,000 potential households in the area.

The transaction is expected to close in the fourth quarter, according to CP. Source Cable was founded by the Campbell family in 1974 under the name Southmount Cable Ltd.

Source Cable has been the lone family-owned cable company in Hamilton since Mountain Cablevision, founded in 1959 by Owen Boris, was sold to Shaw in 2009 for $300 million.

Rogers purchased the system and its 40,000 cable customers from Shaw in 2013.