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Cogeco Cable values service over price to keep TV customers

MONTREAL - Despite fierce competition for TV customers, Cogeco Cable will keep its focus on service over price cuts to keep its customers, said CEO Louis Audet. The company, which operates in parts of Ontario and Quebec, prefers to compete by adjusting customers' packages to their needs, Audet said Thursday, the day after Cogeco Cable and parent Company Cogeco Inc. reporter higher quarterly profits. Bell's Fibe TV service is Cogeco's most aggressive competitor on price, he said in an interview.

Calgary's Shaw Communications reports higher Q2 net income of $222 million

CALGARY - Cable and media giant Shaw Communications Inc. (TSX:SJR.B) posted higher net income of $222 million in the second quarter, as it benefited from the sale of two French-language channels. The earnings, which amounted to 46 cents per share for the three month period ended Feb. 28, compared with net income of $182 million, or 38 cents per share, in the same quarter a year earlier. The Calgary-based company reported that its revenue edged up two per cent to $1.27 billion, from $1.25 billion a year earlier.

Corus Entertainment posts net profit, higher revenues in its second quarter

TORONTO - Corus Entertainment Inc. (TSX:CJR.B) says its net income attributable to shareholders was $6.1 million in its second quarter or seven cents per share, compared with $5.9 million and seven cents EPS in the same quarter last year. Revenues were up 11 per cent to $191.4 million in the quarter from $172.6 million in the second quarter of 2013.

Goldcorp ups Osisko takeover bid to Can$3.6 bn

Canadian mining giant Goldcorp upped its hostile takeover bid for rival Osisko Mining Corp. on Thursday to about Can$3.6 billion (US$3.3 billion). The new offer consists of Can$7.65 per share, the Vancouver-based company said. In January, Osisko had rejected Goldcorp's previous offer of Can$5.95 per share, or Can$2.6 billion, calling it insufficient. "Goldcorp's increased offer represents straightforward and superior value for Osisko shareholders," Goldcorp President and Chief Executive Chuck Jeannes said in a statement.

Fairfax's Watsa says BlackBerry a good long-term investment

By Cameron French TORONTO (Reuters) - Struggling smartphone maker BlackBerry Ltd is a good long-term investment that is being unfairly punished by the stock market, the chief executive of the company's top shareholder said on Wednesday. "We think over time BlackBerry is going to do well," Prem Watsa, CEO of Canada's Fairfax Financial Holdings, which holds about 10 percent of BlackBerry's shares, said at Fairfax's annual general meeting in Toronto.

Long Run Exploration buys Cardium assets for $225M from unnamed vendor

CALGARY - Long Run Exploration Ltd. (TSX:LRE) has an agreement to acquire strategic liquids-rich natural gas assets focused on the Cardium in the Deep Basin area of Alberta for $225 million. Long Run said Wednesday that the deal with a company it identified only as an Alberta-based intermediate oil and gas producer, will add approximately 7,000 barrels of oil equivalent per day — 25 per cent oil and NGLs — of concentrated, long-life liquids-rich natural gas production.

Cogeco Inc. and cable subsidiary report increased revenue and profits

MONTREAL - Telecommunications and media company Cogeco Inc. (TSX:CGO) and its main subsidiary, Cogeco Cable Inc. (TSX:CCA), are both reporting increased revenue and profits in the second quarter. Cogeco says it made a profit of $58.5 million, or $1.03 a diluted share, up from $48.9 million, or 87 cents a diluted share, during the same quarter a year ago. Revenue rose to $518.4 million from $458.5 million. Meanwhile, Cogeco Cable reports a profit of $60.3 million, or $1.23 a diluted share, compared with $50.8 million, or $1.04 a diluted share, in the year-ago period

WestJet CEO pay for 2013 total $3.2 million, down from $3.5 million in 2012

CALGARY - WestJet (TSX:WJA) chief executive Gregg Saretsky earned nearly $3.2 million last year, down slightly from the nearly $3.5 million he earned in 2012, as the size of his bonus shrunk. According to regulatory documents filed ahead of airline's annual meeting, WestJet said Saretsky earned a salary of $567,700, share-based awards totalling more than $1.2 million, $454,160 in option-based awards, a cash bonus of $791,000 and $113,540 in other compensation for 2013.

Sherritt dissident shareholders name nominees for board of directors

HALIFAX - A dissident shareholder group led by Clarke Inc. (TSX:CKI) has nominated three directors for the board of directors at Sherritt International (TSX:S). The nominees include Clarke chief executive George Armoyan and David Wood, chief financial of the Municipal Group of Companies, a construction and mining infrastructure company. The third Clarke nominee is Astor Group chief executive Ashwath Mehra, who is also the former chief executive of MRI Trading AG and senior partner for the nickel and cobalt businesses at Glencore International AG.

Toronto stock market makes triple-digit gain on stronger commodities

TORONTO - The Toronto stock market closed with a strong advance Tuesday as key commodity prices touched their highest levels in weeks. The S Since last week, the resource-weighted TSX has been largely motivated by concerns about the fragility of the global economy and speculation that stock markets could be headed for a pullback. By Tuesday, those worries appeared to have largely subsided, with the TSX mining sector one of the biggest gainers, up 1.9 per cent.
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