Changes are in store for Sunshine Coast's cable television operator.
Last Friday, John Thomas, president of Coast Cable Communications Ltd. (Sunshine Coast) and Delta Cable Communications Ltd. announced that the companies have entered into an agreement for sale with Persona Communications Inc. of St. John's, Nfld.
While most of the details are still being finalized, Thomas said the sale signals a new direction for the company."This is the right deal at the right time with the right people," said Thomas. "It's been a wonderful experience and a wonderful career - our family has enjoyed it. But now it's time for some new ventures and new challenges. It also gives us some more time to devote to family and our grandkids."
Thomas said Persona has assured Coast Cable they will retain all employees, will maintain Delta's and Coast's focus on community involvement and community programming, consider making Delta their western region centre of operations and likely continue to operate under the same company names.
"Having the staff retained was a must for us," added Thomas. "The commitment Persona has for a grassroots presence and a strong commitment to community programming was also a major plus."
Delta and Coast Cable are presently owned by the Thomas family of Delta, which has prevailed since the companies' inceptions in 1966 and 1970, respectively.
Persona is a privately-held corporation with operations across Canada. It currently employs more than 500 people, serving an existing 250,000 customers.
When reached by phone, Dean MacDonald, president and CEO of Persona, confirmed for Coast Reporter they want to "grow the company" and plan to "enhance the great services" Coast Cable and its staff already provide.
"John and I have been friends and known each other for 25 years in the cable company business. It was through that mutual relationship that discussions on this potential deal consummated over the past year," MacDonald said.
"The Thomas family has long been renowned as running one of the best systems in Canada. It's one of the larger independent cable systems in Canada. They are leaders in technology, community programming and strong involvement in the community. Culturally, they share a lot of our same values and philosophies. We see this as a great opportunity."
MacDonald said he has told all the employees that everyone has a job and that they are not interested in changing that.
"Hopefully, because we're a larger organization, we can get more of the market base and bring more products and services to the customers," he said. "I think the Sunshine Coast will have a greater impact on our operations than we will have on theirs. There are a lot of talented people working there with a great knowledge of the industry. We're very excited about this purchase and the opportunities that it brings."
The agreement between the companies will be the subject of Canadian Radio Television and Telecommunications Commission (CRTC) application and will require the Commission's approval before closing.
If approved, the acquisition would position Persona as the fifth largest cable operator in Canada.
Thomas hopes all of the approvals can be in place by the end of the year.
"It's business as usual for us," Thomas said. "We fully expect the CRTC would approve the sale, but if for some reason they don't, we will continue to move forward and provide our customers with the best service possible."
