Communications company Quebecor is naming Quebec City’s new C$400M hockey arena the Videotron Centre “after its growing telecommunications business,” according to Praet & Krashinsky of the GLOBE & MAIL. Although Videotron is “known for its cable business, it also sells wireless devices and services.” With a current Quebec market share of only 12% and “aspirations to expand nationally, Videotron could certainly benefit from more exposure.” Quebecor “won the naming rights to the hockey arena as part of an earlier agreement for management rights to the facility.” The company will pay the city C$33M “when the arena opens” in September. Should Quebecor win an NHL franchise, that amount “would nearly double” to C$63.5M. Quebecor "has been actively seeking an NHL team" since March '12, "but the league is said to be in no hurry to hand the company a franchise." Quebecor "recently purchased" the city's minor league club, the QMJHL Quebec Remparts, who "will play out of the new arena." The five-year-old Videotron business "had about 630,000 subscribers and counting at the end of the fourth quarter." Desjardins Securities VP/Telecom, Media & Tech Maher Yaghi said that he "believes Videotron will be able to win" a 20-25% share of the Quebec market "within two years as it takes business from rivals" (THEGLOBEANDMAIL.com, 4/7).
