Toronto Hydro sells telecom subsidiary for $200 million

Toronto Hydro, the public utility owned by the city of Toronto, has sold its telecom subsidiary, Toronto Hydro Telecom (THT), for $200 million to Cogeco Cable. Among the assets of THT are the municipal Wi-Fi network called OneZone and a 450-kilometer fiber optic network that connects 500 buldings in the city. The city plans to use part of the proceeds from the sale of the subsidiary to repair public housing units.

Read more about this story here (from the Toronto Star).

Comments

  1. the inclusion of the promise to use “part of the proceeds” from this sale for public housing is an obfuscation of the undemocratic and short-sighted way in which the City has handled this.

    a lengthier critique can be found here:

    http://wirelesstoronto.ca/blog/?p=101

  2. Yes this is why I started this organization…
    http://www.innercityweb.com

    We need digital literacy in Toronto.

    Cheers,

    IK