'We are satisfied with the results at Cogeco Media given the impact that the pandemic had on the advertising market,' chief executive Philippe Jette said in a statement.

Cogeco Communications and its parent Cogeco Inc. are themselves the target of unsuccessful joint takeover attempts by Rogers Communications and Altice USA.

The Audet family, which controls the Cogeco companies, rejected another takeover offer from Altice USA Inc. and Rogers Communications Inc.

The company says Rogers can invest as much as it wants in Quebec, but doesn't need Cogeco to do so.

In a letter released two weeks after Rogers and Altice USA Inc. announced a $10.3 billion offer, Cogeco's lead director says they failed to disclose to the public that they'd already been rejected the previous night.

The proposal prompted backlash from the Quebec government.

Altice USA Inc. has made an offer worth $10.3 billion to buy Cogeco Inc. and Cogeco Communications Inc.

These difficulties have been affecting telephone, internet and television services since 8:45 a.m. Monday.