Quebecor Media Inc. today closed the sale of spectrum to Shaw Communications Inc., announced on June 13, 2017. Accordingly, seven 2500 MHz and 700 MHZ licences held by Videotron outside Québec – in southern Ontario, Alberta and British Columbia – have been sold for $430 million in cash.

Videotron obtained regulatory approval from Innovation, Science and Economic Development Canada and the Competition Bureau. The asset sale will enable Videotron to continue investing in the development of its network in Québec and Eastern Ontario.