Struggling wireless cable and high-speed Internet provider Look Communications Inc. has received a cash infusion of $5 million that it will use to expand its customer base and better serve existing customers. Concord ON-based Unique Broadband Systems Inc. (UBS) has chipped in the money through a private placement worth about $1.392 million that will see it acquire a nine per cent share of Look. It will also invest about $3.608 million in consideration for a debenture with a five-year term that could be converted after a year into more shares of Look that would bring UBS’ ownership to 23 per cent.

Unlock all the Canadian telecom, broadcasting and digital media news you need.

Take a free trial or subscribe to The Wire Report now.

Having lost an attempt to get the federal government to exempt it from the CRTC’s new contribution regime, Telesat Canada is now faced with an undisclosed customer that won’t pay the levy that the satellite provider has passed onto its customers.

Unlock all the Canadian telecom, broadcasting and digital media news you need.

Take a free trial or subscribe to The Wire Report now.

Huge investments in the new digital specialty channels with low returns to date, coupled with dismal ratings, likely mean that major changes are not far on the horizon. Even the large broadcasters have begun slashing staff and budgets, and many industry observers are now predicting that mergers and the shuttering of some of the digital channels are inevitable.

Unlock all the Canadian telecom, broadcasting and digital media news you need.

Take a free trial or subscribe to The Wire Report now.