Welcome to today's broadband and cable news snapshot.
Canada's Cogeco Communications (Toronto: CCA) marked its entry into the U.S. cable market Wednesday by putting up US$1.36 billion for Atlantic Broadband, an operator that serves about 252,000 homes in pockets of Delaware, South Carolina, Pennsylvania, Florida and Maryland. Atlantic was founded in 2003 via the purchase of cable systems from Charter Communications Inc. Once Atlantic Broadband is in the fold, Cogeco will serve more than 1.1 million basic video subs. The acquisition of Atlantic from Abry Partners and Oak Hill Capital Partners comes about four months after Cogeco bugged out of the European cable market by selling off its Portuguese cable subsidiary, Cabovisao-Televisao por Cabo SA, for cents on the dollar. Investors weren't crazy about the latest deal, as Cogeco shares closed down 15 percent on Wednesday. (See Cogeco Sells Portuguese Subsidiary.)
Clearleap is encroaching on Synacor Inc. 's turf after launching a TV Everywhere authentication service under the ClearPlay banner. Clearleap says its new system is already integrated with HBO GO and MAX GO, as well as Adobe Pass, an authentication platform from Adobe Systems Inc. (Nasdaq: ADBE) that lets pay-TV subscribers stay logged in as they access content from portals run by cable programmers, including NBCUniversal LLC , TNT and Cartoon Network. The National Cable Television Cooperative Inc. (NCTC) , meanwhile, has selected Clearleap as an approved provider for authentication services for the organization's membership, which is mostly made up of independent cable operators. (See Cable Co-Op Boots Up TV Everywhere Project.)