Quebecor has formed a strategic partnership with the non-profit organization that owns Montreal’s Imperial Theatre to ensure the historic building is preserved and developed as a cultural venue. Quebecor has acquired the property’s substantial mortgage debt, thus stopping repossession proceedings. The partnership makes it possible for the non-profit to retain ownership, while Quebecor will have priority rental rights. The Imperial Theatre’s board of directors will now have six members including Quebecor CFO Jean-François Pruneau and Marc M. Tremblay, senior VP, Chief Legal Affairs and Public Affairs and Corporate Secretary.
The CN Tower says the cable that sparked a smoldering fire inside the broadcast antenna Aug. 16 has been removed. Tests continue to be run to determine what caused the plastic casing around the single coaxial cable to melt.