CJTS-FM to Close Its Doors

MONTRÉAL, QUÉBEC--(Marketwire - Dec. 6, 2011) - Cogeco Diffusion today announced the closing of Sherbrooke radio station CJTS-FM. The station will go off the air today, December 6, 2011, at noon.

The closing of CJTS-FM marks the end of the process established with the Canadian Radio-television and Telecommunications Commission (CRTC) for the sale of this station. The sale of CJTS-FM, and of CJEC-FM and CFEL-FM in the Québec City market, was required by the CRTC when it approved Cogeco's acquisition of the Québec radio stations of Corus Entertainment Inc., in order to comply with the common ownership policy in the Québec City and Sherbrooke markets. The sales process was handled by trustee Fernand Bélisle who has controlled and overseen day-to-day management of these three stations since February 1, 2011.

While takers were found for the two Québec City stations, no offer that met the criteria set forth with the trustee and approved by the CRTC was filed for CJTS-FM within the prescribed timeframe.

Cogeco Diffusion regrets having to proceed with the closing of the station, in particular with respect to CJTS-FM employees who worked so hard until the end. Cogeco Diffusion wishes to thank station employees, announcers and listeners for placing their trust in us over the years.

ABOUT COGECO DIFFUSION

Cogeco Diffusion, one of Québec's largest radio broadcasters, is a subsidiary of COGECO Inc., a diversified communications company with subordinate voting shares listed on the Toronto Stock Exchange (TSX:CGO). Cogeco Diffusion operates directly, or through Cogeco Diffusion Acquisitions, thirteen (13) radio stations across Québec: Rythme FM, CKOI FM, 98.5 FM, 92.5 The Beat and Radio Circulation 730 AM in Montréal, FM 93 and 102.9 FM in Québec City, CKOI FM in Gatineau, CIME-FM in Saint-Jérôme, Rythme FM and CKOI FM in Sherbrooke and Rythme FM and CKOI FM in Trois-Rivières. Cogeco Diffusion also operates Cogeco News, one of Québec's largest news agencies, feeding close to 30 independent and community radio stations across Québec.