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Videotron Ltd. Prices Private Offering of US$700 Million Senior Notes due 2035

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MONTRÉAL, Nov. 4, 2024 /CNW/ – Videotron Ltd. (“Videotron”) today announced the pricing of its US$700 million aggregate principal amount of 5.700% Senior Notes due January 15, 2035 (the “Notes”) (this offering, the “Offering”). The Notes will be sold at US$999.40 per US$1,000 principal amount of Notes. Videotron intends to use the net proceeds of this Offering, together with drawings under its revolving credit facility, to fund the repayment in full of its tranche A term loan due October 2025 under its credit agreement, and for the redemption in full of Videotron’s 5.75% Senior Notes due 2026, pursuant to the terms of the indenture governing such notes.

The Offering is expected to close on or about November 8, 2024, subject to customary closing conditions.

The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933 or applicable state securities laws, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration. The Notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation. The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws.

This news release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This announcement does not constitute a redemption notice in respect of any 5.75% Senior Notes due 2026 (the “2026 Notes”). Any redemption of the 2026 Notes will be made pursuant to a notice of redemption under the indenture governing such notes.

Videotron, a wholly owned subsidiary of Quebecor Media Inc., is an integrated communications company engaged in television, entertainment, Internet access, wireline telephone and mobile telephone services.

Forward‑Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of United States federal securities legislation (collectively, “forward-looking statements”). All statements other than statements of historical facts included in this press release, including statements regarding the prospects of our industry and our prospects, plans, financial position and business strategy, may constitute forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industries in which we operate as well as beliefs and assumptions made by our management. Such statements include, in particular, statements about our plans, prospects, financial position and business strategies. Words such as “may,” “will,” “expect,” “continue,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “believe,” or “seek,” or the negatives of these terms or variations of them or similar terminology, are intended to identify such forward-looking statements. Although we believe that the expectations reflected in those forward-looking statements are reasonable, these statements, by their nature, involve risks and uncertainties and are not guarantees of future performance. Such statements are also subject to assumptions concerning, among other things: our anticipated business strategies; anticipated trends in our business; anticipated reorganizations of any of our segments or businesses, and any related restructuring provisions or impairment charges; and our ability to continue to control costs. We can give no assurance that these estimates and expectations will prove to have been correct. Actual outcomes and results may, and often do, differ from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. Some important factors that could cause actual results to differ materially from those expressed in these forward-looking statements include, but are not limited to: our ability to successfully continue developing our network and facilities-based mobile services; general economic, financial or market conditions and variations in our businesses; the intensity of competitive activity in the industries in which we operate; new technologies that might change consumer behaviour toward our product suite; unanticipated higher capital spending required to develop our network or to address the continued development of competitive alternative technologies, or the inability to obtain additional capital to continue the development of our business; our ability to implement successfully our business and operating strategies and manage our growth and expansion; risks relating to the acquisition of Freedom Mobile Inc. (“Freedom”), including our ability to successfully integrate Freedom’s operations and to realize synergies, and potential unknown liabilities or costs associated with the acquisition of Freedom; the anticipated benefits and effects of the acquisition of Freedom, which may not be realized in a timely manner or at all, and ongoing operating costs and capital expenditures, which could be different than anticipated, as well as unanticipated litigation or other regulatory proceedings associated with the acquisition of Freedom, which could result in changes to the parameters of the transaction; the impacts of the significant and recurring investments that will be required in our new Freedom, Videotron mobile virtual network operator and other markets for development and expansion and to compete effectively with the incumbent local exchange carriers and other current or potential competitors in these markets, including the fact that the post acquisition our business will continue to face the same risks that we currently face, but will also face increased risks relating to new geographies and markets; disruptions to the network through which we provide our digital television, Internet access, mobile and wireline telephony and over-the-top video services, and our ability to protect such services from piracy, unauthorized access or other security breaches; labour disputes or strikes; service interruptions resulting from equipment breakdown, network failure, the threat of natural disasters, epidemics, pandemics and other public health crises and political instability in some countries; the impact of emergency measures implemented by various levels of government; changes in our ability to obtain services and equipment critical to our operations; changes in laws and regulations, or in their interpretations, which could result, among other things, in the loss (or reduction in value) of our licenses or markets or in an increase in competition, compliance costs or capital expenditures; our substantial indebtedness, the tightening of credit markets, and the restrictions on our business imposed by the terms of our debt; and interest rate fluctuations that affect a portion of our interest payment requirements on long-term debt. We caution you that the above list of cautionary statements is not exhaustive. These and other factors could cause actual results to differ materially from our expectations expressed in the forward-looking statements included in this press release, and you are encouraged to read “Item 3. Key Information – Risk Factors” as well as statements located elsewhere in Videotron’s annual report on Form 20-F for the year ended December 31, 2023, and Videotron’s Quarterly Report under Form 6-K for the three- and six- month periods ended June 30, 2024, including Management’s Discussion and Analysis and unaudited interim condensed consolidated financial statements included therein for further details and descriptions of these and other factors. Each of these forward-looking statements speaks only as of the date of this press release. We will not update these statements unless applicable securities laws require us to do so.

SOURCE Videotron Ltd.

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Technology

Smallest.ai launches Lightning – World’s fastest text-to-speech model

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21 mins ago

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November 5, 2024

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Lightning generates upto 10 seconds of audio in just 100msGenerates hyper-realistic audio in English and HindiDrastically reduces the cost for all voicebot builders

BENGALURU, India, Nov. 5, 2024 /PRNewswire/ — Smallest.ai, a leading developer of multi-modal AI foundation models headquartered in San Francisco, California, announces the launch of Lightning the world’s fastest real-time text to speech model that can generate up to 10 seconds of audio in just 100ms. This enables voicebot providers globally to build ultra-realistic bots with sub-second latency, whilst drastically simplifying the integration process.

What makes Lightning revolutionary is also the fact that it costs drastically lower than Western competitors with prices starting at 0.02 USD/min (1.6 Rs/min). This enables population-scale use cases for voicebots at sub 1 Rs/min cost.

Traditionally, real-time text-to-speech models require streaming, which opens up a websocket connection, increasing the computational load on servers and making it difficult and more expensive to scale voicebots. Lightning enables bot providers to scale faster while drastically cutting down on API costs by making it possible to get audio via a simple REST API in around 100ms.

Lightning currently supports multiple English and Hindi accents. Smallest.ai plans on adding other Indian, European, and Asian languages as well in the next couple of months.

Voicebot platforms with early access to Lightning cut their per minute cost by 8x along with a drastic improvement in voice quality.

Whilst Lightning is intended for real-time use-cases, it can also be used to create audiobooks, and voiceovers for reels on Instagram, YouTube, and many more social media platforms. For non-developers, Lightning is available on the Waves Speech platform where support for voice cloning, accent conversion, and other features are available in beta mode.

When asked about it’s mission, Sudarshan Kamath, Founder of Smallest.ai said, “Why are 1B humans not speaking to AI voices everyday despite incredible advancements in Voice AI? This is the problem we are trying to solve.”

About Smallest.ai:

Started by IIT graduates Sudarshan Kamath and Akshat Mandloi, Smallest.ai is backed by marquee investors like 3one4 Capital, Better Capital and Upsparks Capital.

Smallest.ai’s platform is available on Waves and the team actively engages with their customers on discord which is one of the world’s largest speech AI communities.

Photo: https://mma.prnewswire.com/media/2548149/Smallest_ai_launches_Lightning.jpg

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Technology

Digital Realty Expands Global Connectivity with Strategic Partnerships in Asia Pacific to Fuel AI Innovation and Future-ready Digital Infrastructure

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21 mins ago

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November 5, 2024

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StarHub, KINX Inc. (Korea Internet Neutral eXchange), and ARTERIA Networks extend service reach to global audiences via ServiceFabric™, Digital Realty’s service orchestration platform

SINGAPORE, Nov. 5, 2024 /PRNewswire/ — Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, today announced the continued momentum in Asia Pacific of ServiceFabric™, its service orchestration platform that seamlessly interconnects workflow participants, applications, clouds and ecosystems on PlatformDIGITAL®, its global data center platform.

Over 30 Asia Pacific partners are now listed in Service Directory, a central marketplace that allows Digital Realty partners to highlight their offerings, extend their reach to global enterprises, and scale into new markets, reaching over 5,000 customers of Digital Realty. Globally, more than 220 services are now available on the Service Directory, including access to Digital Realty’s Private AI Exchange (AIPx) partner solutions, where we continue to add new partners to the platform. Additionally, Digital Realty’s secure and direct connections to nearly 250 global cloud on-ramps create a vibrant ecosystem for seamless interconnection and collaboration.

New Asia Pacific partners now available on Service Directory include StarHub, a leading telecommunications service provider in Singapore; KINX Inc. (Korea Internet Neutral eXchange) which operates the largest layer-2 based internet exchange in South Korea; and ARTERIA Networks, a leading enterprise-focused telecommunications carrier in Japan.

As enterprises in Asia Pacific look to deploy private AI applications which rely on low latency and the private exchange of data, an open interconnection and orchestration platform is critical. Through ServiceFabric™, customers are now able to easily find, access, and manage connectivity and digital solutions from service providers such as StarHub, KINX, and ARTERIA Networks. This open and collaborative environment empowers businesses to build and orchestrate their ideal solutions, scale confidently, and easily handle demanding workloads.

Through Service Directory’s ‘Click-to-Connect’ capability, Digital Realty customers can orchestrate and automate on-demand connections to the services they need, significantly streamlining workflows and removing manual configuration steps. This also enables customers to generate secure service keys, granting controlled access to resources and partners with customizable security parameters, as well as automate approval workflows and facilitate connections to Service Directory, paving the way for seamless interconnectivity.

Quotes:

Govind Choudhary, Vice President, Strategy & Business Development, Asia Pacific, Digital Realty said: “We are delighted with the continued momentum of our ServiceFabric™ platform in Asia Pacific. The open platform, with its versatile and well-connected ecosystem that continues to grow, provides our customers with a dynamic environment that empowers them to innovate more freely, adapt swiftly to global changes, and optimize their AI strategies. By providing choice and global connectivity, we help our customers accelerate their time-to-market and maximize their competitive edge.”

Tan Kit Yong, Head of Business Group, StarHub, said: “At StarHub, we understand that in the AI-driven era, low latency goes far beyond speed alone. It is about optimising data routing, network topology, and reducing the number of hops between nodes. By minimising latency, we ensure faster decision-making and near-instant responses which is essential for AI applications like machine learning, autonomous operations, and real-time analytics. This is especially vital for time-sensitive tasks, particularly those spanning hybrid environments that integrate both public and private networks. Through our advanced low-latency connectivity at Digital Realty locations in Singapore, powered by ServiceFabric™, we’re enabling seamless peering connections and highly efficient data transit. This allows Digital Realty customers to leverage StarHub’s robust infrastructure for their most demanding AI and data-driven workloads.”

KwanWoo Kim, Director, Global Business Strategy, Korea Internet Neutral eXchange, said: “At KINX, we are focused on interconnecting Korean and global internet service providers, cloud providers and enterprises to achieve our goal as a one-stop solution provider. ServiceFabric™ Service Directory provides a unique platform that empowers Digital Realty customers to seamlessly connect with KINX and our CloudHub® service—Korea’s largest cloud connectivity platform. This partnership will bridge the gap between the Korean and global markets, enabling ICN10 enterprise customers to establish private, secure connections to major cloud providers in Korea, as well as KINX customers to connect with global cloud regions. We’re excited about this opportunity to enhance connectivity and drive innovation.”

Tatsuya Ohkubo, Vice President, Corporate Business Div., ARTERIA Networks, said: “ServiceFabric™ Service Directory enables businesses to access and use cloud and connectivity services in an open and dynamic way. We are excited that ARTERIA Networks’ services will now not only serve Digital Realty customers in Japan but will have global reach, including robust connectivity between Japan and Canada via Topaz, the world’s first submarine cable to directly connect Japan and Canada.”

About Digital Realty

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITAL®, the company’s global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 25+ countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and X.

For Additional Information

Media Contacts
Sin Huay Ho
Digital Realty
+65 8125 8380
shho@digitalrealty.com 

Investor Relations
Jordan Sadler / Jim Huseby
Digital Realty
+1 415 275 5344
InvestorRelations@digitalrealty.com 

Safe Harbor Statement

This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including the company’s strategy, the Asia-Pacific market, ServiceFabric™ and Service Directory, the role of artificial intelligence and customer demand. For a list and description of such risks and uncertainties, see the reports and other filings by the company with the U.S. Securities and Exchange Commission. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View original content:https://www.prnewswire.com/apac/news-releases/digital-realty-expands-global-connectivity-with-strategic-partnerships-in-asia-pacific-to-fuel-ai-innovation-and-future-ready-digital-infrastructure-302296348.html

SOURCE Digital Realty

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Technology

New survey by Market Logic Software exposes costly underutilization of corporate knowledge and market insights: B2C enterprises losing out on millions in value

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22 mins ago

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November 5, 2024

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BERLIN, Nov. 5, 2024 /PRNewswire/ — A new global survey of marketing and product management leaders, Hyperscaling Insights Impact reveals that a staggering 40% of key decisions are taken without reference to consumer insights. This oversight, driven by cumbersome information access, is costing businesses millions in lost value annually.

Published today by Market Logic Software, the survey highlights how reversing this trend could deliver top line impact. An overwhelming 90% of marketing leaders surveyed believe easier access to market insights would boost advertising effectiveness while 89% of product leaders surveyed say it would enhance product launch success rates.

Appetite for utilizing market insights and consumer data is strong.  Business leaders across industries want to apply this data to at least 80% of decisions – a 20% increase over current usage. Yet, fragmented data systems and formats remain a major roadblock. Nearly half (49%) of executives report it takes too long to find and access data. To overcome this, respondents identified implementing a centralized insights platform as a top priority.

The negative impact of not using centralized knowledge management systems is visible in the survey data. Almost 59% of respondents who are not regular users of a knowledge management system reported problems finding and accessing data compared with 36% of those who have a system in place today.

“Our survey shows that marketing and product leaders see vast potential for revenue growth and margin improvements by tackling technological barriers to insights access,” said Dirk Wolf, CEO of Market Logic Software. “In the consumer-packaged goods (CPG) industry alone we estimate a $25 billion opportunity. Insights executives and CIOs now have a critical role in enabling their organizations to unlock this advantage rapidly by building a strategic end-to-end insights process utilizing internal and external data sources and consumer insights holistically.”  

The survey was conducted by Insight Platforms, a leading independent voice in the insights industry. Mike Stevens, CEO of Insight Platforms, commented on the results, “Advances in technology, especially AI, make it easier than ever to generate and share market insights at scale. Yet, the survey data shows many businesses are missing out. It’s time for IT and insights teams to collaborate and fully leverage their market intelligence and research investments.”

Download a full copy of the “Hyperscaling Insights Impact’ report here.

About Market Logic Software 

Market Logic is a market-leading SaaS provider of insights management solutions. Our award-winning AI-enabled insights management platform DeepSights™ allows insights teams to equip business decision-makers with trusted insights at scale and speed. Since 2006, we’ve helped hundreds of consumer-focused brands across the globe to transform into insights-driven businesses. Market leaders such as Unilever, Vodafone, and Tesco are driving innovation and making smarter market moves with the support of Market Logic.  

For more information, please visit marketlogicsoftware.com. 

Media contact:
Daniela Zuin,
Chief Marketing and Growth Officer, Market Logic
Email: Daniela.zuin@marketlogicsoftware.com
Tel: +44 7799113040

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