FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF ~~THE~~THESECURITIES ~~SECURITIES~~ EXCHANGE ACT OF 1934 FOR THE MONTH OF ~~NOVEMBER~~MAY ~~2003~~2004 CF CABLE TV INC. (Name of Registrant) 300 Viger Avenue East, Montreal, Canada, H2X 3W4 (Address of principal executive offices) [Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.] Form 20-F |_| Form 40-F |_| [Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g 3-2(b) under the Securities Exchange Act of 1934.] Yes |_| No |X| [If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g 3-2(b): 82-____________.]

Form 20-F |_| Form 40-F |_|

[Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g 3-2(b) under the Securities Exchange Act of 1934.]

Yes |_| No |X|

[If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g 3-2(b): 82-____________.]

CF CABLE TV INC.
Filed in this Form 6-K

Documents index

1. Unaudited Consolidated Financial Statements of CF Cable TV Inc. for the quarter ended ~~September~~March 3031, ~~2003~~2004; and Report to bondholders (Management Discussion and Analysis for the quarter ended ~~September~~March 3031, ~~2003~~2004).

Unaudited financial information Form 6-K* for the quarter ended ~~September~~March 3031, ~~2003~~2004

*	This document has not been filed with the U.S. Securities and Exchange Commission (SEC) but has been delivered to the SEC for informational purposes only.

~~November~~May 2625, ~~2003~~2004

~~Highlights~~CF ~~Nine~~CABLE TV INC. Interim Consolidated Financial Statements(Unaudited) Three-month ~~period~~periods ended ~~September~~March 3031, ~~FINANCIAL~~2003 ~~HIGHLIGHTS~~and 2004

(in thousands of Canadian dollars)		2003		2002
Financial Statements
Revenues		$	116,637	$	121,162	-3.7	%
Highlights	2
EBITDA		$	40,361	$	42,679	-5.4	%
Message to Bondholders	3-6
Depreciation and amortisation		$	14,971	$	14,674	2.0	%
Interim Consolidated Statements of Operations	7
Operating income		$	25,390	$	28,005	-9.3	%
Interim Consolidated Statements of Retained Earnings (Deficit)	8
Net income		$	27,718	$	13,712	102.1	%
Interim Consolidated Balance Sheets	9
Cash flows from operating activities		$	23,511	$	37,895	-38.0	%
Interim Consolidated Statements of Cash Flows	10
Capital expenditures		$	9,870	$	10,095	-2.2	%
Notes to Interim Consolidated Financial Statements	11

~~OPERATIONAL HIGHLIGHTS~~-1-

Subscribers
Basic Cable
Basic Subscribers (1)	417,370		428,598		-2.6	%
Home passed (2)	657,817		654,527		0.5	%
% Penetration (3)	63.4	%	65.5	%
Basic Subscribers - Residential (4)	362,651		374,160		-3.1	%
Extended Basic Tier - Residential Subscribers	289,293		299,083		-3.3	%
% Penetration - Residential Basic Subscribers	79.8	%	79.9	%
Digital Cable
Digital Subscribers	47,711		33,615		41.9	%
% Penetration (5)	11.4	%	7.8	%
Number of digital terminals	51,354		35,823		43.4	%

Highlights
Three-month periods ended March 31

(1) Basic subscribers are subscribers who received basic cable service and includes analog and digital basic subscribers.

FINANCIAL HIGHLIGHTS

*(in thousands of Canadian dollars)*		2003		2004	Change
		*(Restated)*

Revenues	$	38,997	$	39,616	1.6	%
Operating income	$	11,907	$	12,899	8.3	%
Depreciation and amortisation	$	3,485	$	3,853	10.6	%
Net income	$	12,483	$	5,006	-59.9	%
Cash flows from operating activities	$	1,833	$	73,710	3921.3	%
Capital expenditures(1)	$	2,466	$	4,247	72.2	%

(2) Homes passed are number of living units, such as residence homes, apartments and condominium units, passed by the cable television distribution network in a given cable system service area to which we offer the named service.

OPERATIONAL HIGHLIGHTS

*Subscribers*	2003		2004



Home passed (2)	654,133		661,399		1.1	%


*Cable subscribers*


Basic Cable Subscribers (3)	422,020		417,128		-1.2	%
% Penetration (4)	64.5	%	63.1	%
Basic Cable, Net additions (losses)	(2,659	)	(687	)	-74.2	%


Digital Cable Subscribers	40,257		64,138		59.3	%
% Penetration (5)	9.5	%	15.4	%
Digital Cable, Net additions	2,914		9,257		217.7	%


*Internet Access Subscribers of an Affiliated Company*


Cable Modem	86,449		114,498		32.4	%
% Cable Modem penetration (6)	13.2	%	17.3	%
Cable Modem, Net additions	641		7,439		1060.5	%

(31) ~~Represents~~Capital ~~subscribers~~expendidures asis acomprised ~~percentage~~of acquisition of ~~homes~~fixed ~~passed.~~assets

(42) ~~Residential~~Homes ~~basic~~passed ~~subscribers~~ are number of living units, such as residential ~~subscribers~~homes, ~~who~~apartments ~~received~~and ~~basic~~condominium units, passed by the cable television distribution network in a given cable system service ~~and~~area ~~includes~~to ~~analog~~which ~~and~~we ~~digital~~offer ~~basic~~the ~~subscribers~~named service.

(3)

Basic subscribers are subscribers who received basic cable service, including analogue and digital subscribers.

(4)

Represents subscribers as a percentage of homes passed.

(5)

Represents digital subscribers as a percentage of basic subscribers.

1(6) Represents cable modem Internet as a percentage of homes passed.

REPORT TO BONDHOLDERS Quarter ended September 30, 2003 Consolidated operating revenues for the quarter ended September 30, 2003, were $38.7 million compared to $39.6 million for the 2002 corresponding period, a decrease of $0.9 million, or 2.3%. The decrease is mainly due to the loss of 11,228 basic service subscribers. Operating income before depreciation and amortisation (EBITDA) decreased by $1.1 million, or 7.5%, from $14.7 million realised in the same quarter last year, mainly due to the loss of basic service subscribers. Last year’s results were impacted by a labour conflict which resulted in higher costs. These higher costs were however more than compensated by a one time network property tax recovery of $2.1 million from prior years. Depreciation and amortisation totalled $5.1 million, an increase of 4.1% over the quarter of the previous year, mainly due to amortisation of higher capital expenditures in the prior years. Net income was $4.4 million for the third quarter of 2003 compared to $0.3 million for the third quarter of 2002. The increase in net income is due to lower financial expenses and lower exchange losses compared to the same quarter last year. Nine months ended September 30, 2003 Consolidated Statements of Income Consolidated operating revenues for the nine months ended September 30, 2003, were $116.6 million compared to $121.2 million for the same period last year, a decrease of $4.6 million, or 3.8%, resulting mainly from the loss of basic service subscribers. Operating income before depreciation and amortisation (EBITDA) totalled $40.4 million in 2003 compared to $42.7 million in 2002, a decrease of $2.3 million, or 5.4%. Gross profit margins fell to 69.3% from 70.0% for the nine months ended September 30, 2003, a decrease of 0.7%. The reduction in gross profit margin is due to the increase in monthly programming fees and an increase in programming rebates to customers. Operating and administrative expenses decreased to $40.4 million from $42.1 million, down by $1.7 million, or 4.0%. The decrease reflects the avoidance of labor conflict related costs of 2002 and the results of the cost reduction program including labor force downsizing. Financial expenses totalled $5.1 million in 2003 compared to $8.3 million in 2002, a decrease of $3.2 million, or 38.6%, mainly due to an improvement in cash management. Exchange rate fluctuations on US-~~denominated debt generated a non-materialised gain of $17.~~2 million for the nine months ended September 30, 2003, compared $0.9 million for the same period last year, an increase of $16.3 million. The Company reported a net income of $27.7 million for the nine months ended September 2003 compared to $13.7 million for the same period last year, an increase of $14.0 million. The change in results is mainly attributable to exchange gains on US-denominated long-term debt in 2003 compared to 2002. Liquidity and Capital Resources Cash flows from operating activities were $23.5 million in 2003 compared to $37.9 million in 2002. Cash inflows from operations were $0.9 million higher than the previous year and cash outflows from non-cash operating items were $15.3 million higher than last year due to the change in accounts receivable from the parent company and to the timing of payments made to suppliers. 2

~~Investing~~CF ~~activities~~CABLE ~~resulted~~TV INC. MESSAGE TO BONDHOLDERS General Our consolidated financial statements have been prepared in ~~cash~~accordance ~~outflows~~with ofCanadian ~~$9.9~~GAAP, ~~million~~which in ~~2003~~certain ~~compared~~aspects todiffer ~~$10~~from U.1S. ~~million~~GAAP. inWe are a wholly owned subsidiary of Vidéotron Ltée, the ~~same~~largest ~~period~~operator of cable systems in ~~2002.~~the ~~Financing~~Province ~~activities~~of ~~resulted~~Québec and the third largest in ~~cash~~Canada. ~~outflows~~Vidéotron serves the majority of ~~$13.6~~its ~~million~~customers inthrough ~~2003~~a ~~compared~~contiguous toand ~~$28~~highly clustered network which covers approximately 80 % of Québec’s 3.0 million inhomes ~~2002~~passed by cable. The ~~variation~~network modernization program was substantially completed in ~~cash~~2001, ~~flows~~which ishas ~~mainly~~provided ~~due~~us, toand the ~~change~~parent company, with one of the largest bi-directional hybrid fiber coaxial (HFC) networks in ~~advances~~North toAmerica. ~~parent~~Vidéotron offers customers bundled packages of products and services including analogue and digital cable television, high-speed Internet access, pay television, selected interactive television services and video-on-demand. Our primary sources of revenue are subscriptions from our customers for cable television and Internet access royalties from a related company. Our business is mostly subscription based, which provides stable revenues and low sensitivity to ~~proceeds~~general ~~from~~economic ~~the~~conditions. ~~sale~~We provide a wide variety of ~~preferred~~packages ~~shares~~and range of anprices. ~~affiliated~~Our ~~company~~major ~~which~~cost ~~occurred~~components are direct costs and operating expenses. Direct costs consist of television programming cost. These costs vary in ~~2002~~relation with the number of customers and price fluctuations from suppliers. Major components of operating expenses are salaries and benefits, subcontractors’ costs, advertising and regulatory contributions. As atcalculated ~~September~~in 30our interim consolidated financial statements included in this report, ~~2003~~operating income for us means earnings before depreciation and amortization, financial expenses, other items (consisting primarily of restructuring charges), income taxes, and non-controlling interest in a subsidiary. Operating income is not a measure of results that is consistent with generally accepted accounting principles. It is not intended to be regarded as an alternative to other financial operating performance measures or to the ~~Company’s~~statement of cash ~~position~~flows ~~was~~as $0a measure of liquidity.1 ~~million~~It ~~compared~~is not intended to anrepresent ~~indebtedness~~funds available for debt service, dividends, reinvestment or other discretionary uses, and should not be considered in isolation as a substitute for measures of $0performance prepared in accordance with generally accepted accounting principles.2 ~~million~~We atuse ~~the~~operating ~~end~~income because management believes that it is a meaningful measure of performance commonly used in the ~~same~~cable ~~period~~industry ~~last~~and ~~year~~by the investment community to analyse and compare companies. ~~Raymond~~It ~~Morissette~~also ~~Vice~~facilitates year-~~President~~over-year comparison of results, ~~Control~~since CFoperating ~~CABLE~~income TVexcludes, ~~INC.~~among ~~November~~other 26things, ~~2003~~unusual items that are not readily comparable from year to year. Our definition of operating income may not be identical to similarly titled measures reported by other companies. Operating income margin is operating income as a percentage of operating revenues. -3-

CFSignificant ~~CABLE~~changes TVOn ~~Inc~~January 16, 2004, we contracted a subordinated debt of $165.0 ~~CONSOLIDATED~~million ~~STATEMENTS~~from OFVidéotron ~~INCOME~~(1998) Ltée, an affiliated company. This subordinated debt bears interest at 10.75% per annum and matures on January 16, 2019. On the same day, we invested the whole proceeds of $165.0 million into 165,000 preferred shares, Series D of Vidéotron (1998) Ltée. These shares carry the right to receive an annual dividend of 11% payable in June and December of each year. These transactions were effected to improve the tax consolidation of Vidéotron Ltée and its subsidiaries. Changes in accounting principles During the fourth quarter of 2003, the Company revised its accounting of reconnecting costs. (see Note 1 of the financial statements). The Company changed its accounting principles to expense as they are incurred, the costs of reconnecting subscribers. First Quarter ended March 31, 2004 Consolidated Statements of Income Consolidated operating revenues for the first quarter ended March 31, 2004 were $39.6 million, compared to $39.0 million for the same period in 2003, an increase of $0.6 million, or 1.6 %. This growth was primarily the result of sales of set-top boxes to digital cable subscribers for $1.0 million. Other increases in revenues result from a price increase we implemented in February 2003 for basic cable television customers, an increase in Internet revenues due to a higher number of high speed Internet customers and an increase in the Internet royalty rate paid by a related company. These increases were partially offset by a decline in the number of our basic cable customers by 4,892 or 1.2%. Average revenue per subscriber per month (ARPU) increased to $31.61 for the first quarter ended March 31, 2004, from $30.71 for the same period in 2003, representing an increase of 2.9%. This increase is due to a price increase and customer conversions from analogue to digital, providing higher revenue per customer. Directs costs increased $4.8 million, or 40.0 %, to $16.8 million for the first quarter ended March 31, 2004 from $12.0 million for the same period in 2003. This increase is mainly attributable to the costs of equipment sold to customers. Operating and administrative expenses decreased by $5.1 million, or 8.4 %, to $10.0 million for first quarter ended March 31, 2004 from $15.1 million in 2003. The decline is due to the change in the percentage of operating and administrative expenses recharged by the parent company which is based on the number of customers per company and the change in the rate of expenses recharged to an affiliated company for the utilisation of the network which is based on the number of Internet customers. -4-

	For the three-month period ended					For the nine-month period ended
(in thousands of Canadian dollars) (Unaudited)	September 30,2003		September 30,2002			September 30,2003			September 30,2002
Operating revenues	$	38,743	$	39,550		$	116,637		$	121,162
Direct costs		11,947		12,103			35,833			36,409
		26,796		27,447			80,804			84,753
Operating and administrative expenses		13,155		12,732			40,443			42,074
Operating income before depreciation and amortisation		13,641		14,715			40,361			42,679
Depreciation and amortisation		5,054		4,914			14,971			14,674
Operating income		8,587		9,801			25,390			28,005
Financial expenses (note 3)		1,787		4,744			5,128			8,265
Exchange (gain) loss on US-denominated
long-term debt (note 1b)		182		5,368			(17,214	)		(902	)
		6,618		(311	)		37,476			20,642
Income taxes
Current		157		171			481			514
Future		2,149		(751	)		9,351			6,432
		2,306		(580	)		9,832			6,946
		4,312		269			27,644			13,696
Share in the results of a company subject to
significant influence		47		30			74			104
Non-controlling interest in a subsidiary		—		—			—			(88	)
Net income	$	4,359	$	299		$	27,718		$	13,712

Financial expenses for the first quarter 2004 were $5.8 million, as compared to $2.0 million for the same period in 2003, an increase of $3.8 million, or 190%. The increase is attributable to the $3.8 million of interest expense on the new debt of $165.0 million due to an affiliated company. On the other hand, dividend income from an affiliated company increased by $3.8 million, attributable to the $165.0 million investment in an affiliated company. The company’s Senior notes are denominated in US dollar. The variation of the exchange rate resulted in a loss of $1.1 million in the first quarter of 2004 compared to a gain of $8.3 million in the same period of 2003.

Net income was $5.0 million for the first quarter of 2004 compared to $12.5 million for the first quarter of 2003, a decrease of $7.5 million or 60.0%. The decrease in net income is due to a lower exchange gain on foreign currency long-term debt compared to the same quarter last year.

Liquidity and Capital Resources

Cash provided by operating activities during the first quarter ended March 31, 2004 was $73.7 million, as compared to $1.8 million for the same period in 2003, an increase of $71.9 million. Cash flows from operations before changes in non-cash operating items, amounted to $10.8 million for the first quarter ended in 2004 compared to $9.8 million for the same period in 2003. This $1.0 million increase is mainly due to reductions in operating and administrative expenses, offset by losses on subscribers’ equipment sales. Changes in non-cash operating items provided $62.9 million in the first quarter ended March 31, 2004, as compared to $8.0 million used for the same period in 2003, an increase of $70.9 million. The variation in non-cash operating items was mainly due to the repayment of amounts receivable from the parent company in consideration of the redemption of $70.0 million in capital shares.

The total cash flows used by investing activities for the first quarter of 2004 were $169.3 million as compared to $2.5 million for the same period last year, an increase of $166.8 million, mainly due to the acquisition of preferred shares, Series D, of Vidéotron (1998) Ltée., an affiliated company for an amount of $165.0 million. During the first quarter of 2004 we invested $4.2 million in capital expenditures compared to $2.5 million during the same period in 2003. The Company continued to focus on success driven capital spending and maintaining the network in very good condition.

Cash flows generated from financing activities were $95.0 million in the first quarter of 2004. On January 16, 2004, we borrowed $165.0 million in the form of a due to an affiliated company, Vidéotron (1998) Ltée, and used the whole proceeds of this loan to acquire the preferred shares of Vidéotron (1998) Ltée. The Company also reduced its issued and paid-up capital on common shares for a total amount of $70.0 million.

As at March 31, 2004, the Company’s indebtedness position amounted to $0.4 million compared to $0.6 million at the end of the same period in 2003.

Management believes that cash flows from operations and available sources of financing should be sufficient to cover cash requirements for capital investment, interest payments and mandatory debt repayment.

-5-

4Risks and Uncertainties In the normal course of business, we are exposed to market risks. In addition to market risks associated with fluctuations in interest rates and exchange rates of the U.S. dollar to the Canadian dollar, we are also exposed to credit risks. Concentration of credit risk with respect to trade receivables is limited due to our large customer base and low receivable amounts from individual customers. As of March 31, 2004, we had no significant concentration of credit risk. Competition is very intense in television services distribution. Our principal competitors include off-air television and providers of other entertainment, direct broadcast satellite, private cable, other cable distribution and wireless distribution. Competition is also intense in high-speed Internet access from digital subscriber line (DSL) technology. The cable and Internet access industries are experiencing rapid and significant technological changes, which may result in alternative means of transmission and which could have a materially adverse effect on our business, financial condition or results of operations. We may not be able to successfully compete with existing or newly developed alternative technologies or may be required to acquire, develop or integrate new technologies ourselves. Regulation We are subject to extensive government regulations mainly through the Broadcasting Act (Canada) and the Telecommunications Act (Canada), both of which are administered by the Canadian Radio-television and Telecommunications Commission. Changes to the regulations and policies governing broadcast satellite services, the introduction of new regulations or policies or terms of license could have a material effect on our business, financial condition or results of operations. Yvan Gingras Executive Vice-President, Finance and OperationsVidéotron Ltée May 13, 2004 -6-

CF CABLE TV ~~Inc~~INC. ~~CONSOLIDATED~~Interim ~~STATEMENTS~~Consolidated OFStatements ~~DEFICIT~~of Operations For the three-month periods ended March 31, 2003 and 2004 (in thousands of dollars)

	For the three-month period ended						For the nine-month period ended
		2003			2004
(in thousands of Canadian dollars) (Unaudited)	September 30,2003			September 30,2002			September 30,2003			September 30,2002
	(Restated)
Balance at beginning	$	(12,280	)	$	(38,244	)	$	(35,639	)		(45,038	)
Operating revenues	$	38,997		$	39,616
Cumulative effect of accounting change (note 1b)		—			—			—			(8,480	)
Direct costs		11,999			16,760
Balance at beginning restated		(12,280	)		(38,244	)		(35,639	)		(53,518	)
		26,998			22,856
Net income		4,359			299			27,718			13,712
Operating and administrative expenses		15,091			9,957
Excess of the fair value over the carrying valueof
Operating income before the undernoted		11,907			12,899
the assets sold to an affiliated company (note 2a)		—			—			—			1,861
Depreciation and amortization (note 3)		3,485			3,853
Balance at end	$	(7,921	)	$	(37,945	)	$	(7,921	)	$	(37,945	)
Financial expenses (note 4)		1,998			5,754
Loss (gain) on foreign currency long-term debt		(8,301	)		1,119
Dividend income from an affiliated company		—			(3,769	)
Income before income taxes, share in the results of
a company subject to significant influence and non-
controlling interest in a subsidiary		14,725			5,942
Income taxes:
Current		167			167
Future		2,111			806
		2,278			973
		12,447			4,969
Share in the results of a company subject to
significant influence		36			38
Non-controlling interest in a subsidiary		—			(1	)
Net income	$	12,483		$	5,006

5See accompanying notes to interim consolidated financial statements. -7-

CF CABLE TV ~~Inc~~INC. ~~CONSOLIDATED~~Interim ~~CASH~~Consolidated ~~FLOWS~~Statements of Retained Earnings (Deficit) For the three-month periods ended March 31, 2003 and 2004 (in thousands of dollars)

	For the three-month period ended						For the nine-month period ended
		2003			2004
(in thousands of Canadian dollars) (Unaudited)	September 30,2003			September 30,2002			September 30,2003			September 30,2002
		(Restate	d)
Cash flows from operating activities
Balance at beginning of period:
Net income	$	4,359		$	299		$	27,718		$	13,712
As previously reported	$	(35,639	)	$	6,235
Adjustments for the following items:
Changes in accounting principles (note 1)		5,637			—
Amortisation of fixed assets		5,027			4,813			14,889			14,295
As restated		(30,002	)		6,235
Amortisation of deferred charges		27			101			82			379
Net income		12,483			5,006
Amortisation of financing expenses		66			67			200			200
Balance at end of period	$	(17,519	)	$	11,241
Future income taxes		2,149			(751	)		9,351			6,432
Share in the results of a company subject to
significant influence		(47	)		(30	)		(74	)		(104	)
Exchange (gain) loss on US-denominated
long-term debt		182			5,368			(17,214	)		(902	)
Other items		—			(7	)		—			47
Cash flows from operations		11,763			9,860			34,952			34,059
Net change in non-cash operating items:
Receivable (payable) from (to) parent and
affiliated companies		(6,478	)		(1,153	)		(8,076	)		(1,655	)
Income taxes receivable		35			161			(603	)		230
Prepaid expenses and other current assets		(114	)		(78	)		(256	)		744
Accounts payable and accrued liabilities		188			1,250			(1,464	)		6,105
Deferred revenue and prepaid services		(277	)		(466	)		(1,042	)		(1,588	)
		(6,646	)		(286	)		(11,441	)		3,836
Cash flows from operating activities		5,117			9,574			23,511			37,895
Cash flows from investing activities
Acquisition of fixed assets		(3,599	)		(3,353	)		(9,870	)		(10,324	)
Proceeds on disposal of fixed assets		—			15			—			200
Deferred charges transferred to affiliated companies		—			—			—			29
Cash flows from investing activities		(3,599	)		(3,338	)		(9,870	)		(10,095	)
Cash flows from financing activities
Repayment of long-term debt		(10	)		(7	)		(25	)		(3,404	)
Advances to parent company		(1,512	)		(5,852	)		(13,699	)		(30,601	)
Proceeds on disposal of preferred shares
of an affiliated company (note 2a)		—			—			—			6,820
Acquisition of non-controlling interest (note 2c)		—			—			—			(800	)
Other		—			—			88			(32	)
		(1,522	)		(5,859	)		(13,636	)		(28,017	)
Net change in cash and cash equivalents		(4	)		377			5			(217	)
Cash and cash equivalents at beginning		69			(563	)		60			31
Cash and cash equivalents at end	$	65		$	(186	)	$	65		$	(186	)
Cash and cash equivalents are comprised of:
Cash	$	143		$	3		$	143		$	3
Issued and outstanding cheques		(78	)		(189	)		(78	)		(189	)
	$	65		$	(186	)	$	65		$	(186	)

6See accompanying notes to interim consolidated financial statements. -8-

CF CABLE TV ~~Inc~~INC. ~~CONSOLIDATED~~Interim ~~BALANCE~~Consolidated ~~SHEETS~~Balance Sheets As at December 31, 2003 and March 31, 2004 (in thousands of dollars)

(in thousands of Canadian dollars) (Unaudited)	September 30,2003			December 31,2002
		December 31,			March 31,
Assets
		2003			2004
Current assets
		(Restated)
Cash	$	143		$	72
Assets
Amounts receivable from an affiliated company		1,167			767
Current assets:
Amounts receivable from parent company		8,092			627
Cash	$	155		$	176
Advance receivable from parent company		69,237			55,538
Amounts receivable from parent company		75,266			—
Prepaid expenses and other current assets		779			523
Amounts receivable from affiliated companies		2,762			6,773
Income taxes receivable		603			—
Advances to parent company		733			733
		80,021			57,527
Prepaid expenses and other current assets		633			1,040
Investments		865			878
		79,549			8,722
Fixed assets (note 4)		179,100			184,119
Futures income taxes		1,295			1,295
Deferred charges (note 5)		4,532			4,814
Fixed assets (note 5)		195,582			196,004
Future income tax assets		1,123			1,123
Goodwill		167,892			167,892
	$	433,533		$	416,353
Deferred charges (note 6)		4,412			4,317
Investments		976			1,014
Investments in an affiliated company		—			165,000
	$	449,706		$	544,244
Liabilities and Shareholder’s Equity
Current liabilities
Current liabilities:
Issued and outstanding cheques	$	7851		$	12620
Accounts payable and accrued liabilities (note 6)		28,156			29,619
Accounts payable and accrued liabilities (note 7)		29,786			17,579
Amounts payable to affiliated companies (note 7)		317			528
Amounts payable to parent company		—			4,376
Deferred revenue and prepaid services		19,577			20,619
Amounts payable to affiliated companies		317			322
		48,128			50,778
Deferred revenue and prepaid services		19,410			19,270
Long-term debt (note 8)		102,052			119,291
Income tax payable		45			59
Due to parent company (note 9)		25,969			25,969
		49,609			42,226
Future income taxes		3034,~~295~~760			2035,~~944~~566
Non-controlling interest in a subsidiary (note 2c)		10			10
Long-term debt (note 8)		98,015			99,134
		206,454			216,992
Due to parent company (note 9 (a))		25,969			25,969
Shareholders’ equity
Due to an affiliated company (note 9 (b))		—			165,000
Share capital		235,000			235,000
Non-controlling interest in a subsidiary		10			—
Deficit		(7,921	)		(35,639	)
		208,363			367,895
		227,079			199,361
Shareholder’s equity:
	$	433,533		$	416,353
Share capital (note 10)		235,000			165,000
Contributed surplus		108			108
Retained earnings		6,235			11,241
		241,343			176,349
	$	449,706		$	544,244

7Contingencies (note 11) See accompanying notes to interim consolidated financial statements. -9-

CF CABLE TV INC. ~~Notes~~Interim toConsolidated ~~the~~Statements ~~consolidated~~of ~~financial~~Cash ~~statements~~Flows ~~for~~For the ~~nine~~three-month ~~period~~periods ended ~~September~~March 3031, 2003 and 2004 (~~unaudited~~in thousands of dollars)

1. Significant Accounting Principles:


		2003			2004

		(Restated)

Cash flows from operating activities:
Net income	$	12,483		$	5,006
Adjustments for the following items:
Depreciation and amortization		3,552			3,920
Future income taxes		2,111			806
Share in the results of a company subject to
significant influence		(36	)		(38	)
Loss (gain) on foreign currency long-term debt		(8,301	)		1,119
Non-controlling interest in a subsidiary		—			1

Cash flows from operations		9,809			10,814

Net change in non-cash operating items:
Income taxes		(520	)		14
Net amount receivable and payable from/to affiliated
companies		(3,017	)		75,636
Prepaid expenses and other current assets		(134	)		(407	)
Accounts payable and accrued liabilities		(3,964	)		(12,207	)
Deferred revenue and prepaid services		(341	)		(140	)

		(7,976	)		62,896

Cash flows from operating activities		1,833			73,710

Cash flows from investing activities:
Acquisition of fixed assets		(2,466	)		(4,247	)
Acquisition of non-controlling interest		—			(11	)
Investment in an affiliated company		—			(165,000	)

Cash flows used in investing activities		(2,466	)		(169,258	)

Cash flows from financing activities:
Repayment of long-term debt		(7	)		—
Due to an affiliated company		—			165,000	)
Redemption of capital shares		—			(70,000	)

Cash flows from (used in) financing activities		(7	)		95,000

Net change in cash and cash equivalents		(640	)		(548	)
Cash and cash equivalents at beginning of period		60			104

Cash and cash equivalents at end of period	$	(580	)	$	(444	)


Cash and cash equivalents are comprised of:
Cash	$	67		$	176
Issued and outstanding cheques		(647	)		(620	)

	$	(580	)	$	(444	)

~~(a)~~See ~~Consolidated~~accompanying notes to interim consolidated financial statements:. -10-

~~These~~CF ~~consolidated~~CABLE ~~financial~~TV ~~statements,~~INC. ~~expressed~~Notes into ~~Canadian~~Interim ~~dollars,~~Consolidated ~~are~~financial ~~prepared~~statements(unaudited) inAs ~~accordance~~at ~~with~~March ~~Canadian~~31, ~~generally accepted accounting principles.~~2004

~~The~~1. ~~consolidated~~Basis ~~financial statements include the accounts~~ of CFpresentation ~~Cable TV inc. (the “Company”)~~ and ~~all~~accounting ~~its subsidiaries from the date of acquisition of their control.~~changes:

~~(b)~~The ~~Foreign~~Company ~~currency~~is ~~translation:~~a distributor of pay-television services in the Province of Québec providing cable television and Internet access services.

InThe ~~November~~accompanying ~~2001,~~unaudited ~~the~~Consolidated ~~CICA~~financial ~~issued~~statements ~~Handbook~~of ~~Section 1650, Foreign Currency Translation. It recommends to eliminate~~ the ~~deferral~~Company ~~and~~have ~~amortisation~~been ofprepared ~~unrealised~~in ~~foreign~~accordance ~~currency~~with ~~translation~~Canadian ~~gains~~generally ~~and~~accepted ~~losses~~accounting principles on ~~long-lived~~a ~~monetary~~basis ~~items~~consistent ~~for~~with athose ~~recognition~~followed in the ~~statement~~most ofrecent ~~operations.~~audited Inannual ~~the~~Consolidated ~~first~~financial ~~quarter~~statements. ofThese ~~2002,~~unaudited ~~the~~interim ~~Company~~Consolidated ~~adopted~~financial ~~the~~statements ~~new~~do ~~recommendations~~not ~~retroactively~~include ~~and~~all ~~the~~information ~~comparative~~and ~~figures~~note ~~have~~disclosures ~~been~~required ~~restated.~~by ~~The~~Canadian ~~effect~~generally ofaccepted ~~adopting~~accounting ~~the~~principles ~~new~~for ~~recommendation~~annual ~~resulted~~financial instatements, aand ~~decrease~~therefore inshould ~~deferred~~be ~~charges~~read in ~~the~~conjunction ~~amount~~with ofthe ~~$8.5~~December ~~million~~31, ~~and~~2003 anaudited ~~increase~~Consolidated infinancial ~~deficit~~statements inand the ~~amount~~notes ~~of $8.5 million~~below:

Changes in accounting policies:

Reconnection costs:

During the fourth quarter of 2003, the Company revised its accounting for the accounting of the reconnecting costs. Up to the end of the third quarter of 2003, the costs of reconnecting subscribers, which included material, direct labour, and certain overhead charges were capitalised to the fixed assets and depreciated over a three-year or four-year period on a straight-line basis.

The Company changed its accounting policies to expense, as they are incurred, the costs of reconnecting subscribers. These changes have been applied retroactively and have had the following effects for the three-month period ended March 31, 2003:

•

The operating costs increased by $343,000;

•

The depreciation expense decreased by $279,000;

•

The income tax expense increased by $36,000; and

•

The net income decreased by $100,000.

As at March 31, 2003, fixed assets decreased by $2.8 million, future income tax assets increased by $0.9 million and the deficit as at January 1, 2003 increased by $1.8 million.

2.	Business reorganisation:

~~(a)~~In OnMarch ~~February 8~~2004, ~~2002,~~Vidéotron ~~the~~(Régional) ~~Company and its subsidiaries sold to an affiliated company~~Ltée, ~~Câblage QMI Inc., all their rights and obligations in their internal wire for~~ a ~~total~~subsidiary ~~consideration~~ of ~~$6.8 million which represents~~ the ~~transaction~~company, ~~price~~redeemed ~~agreed~~from ~~between~~its ~~affiliated~~non-controlling ~~companies.~~shareholder ~~As consideration~~1,000 ~~the Company received 6,820 preferred shares~~ of ~~Câblage~~Class ~~QMI~~“D” ~~Inc.~~Preferred inShares ~~the~~and ~~amount~~100 of ~~$6.8~~Class ~~million.~~“C” ~~Since~~Common ~~this~~Shares ~~transaction~~for isa ~~between~~total ~~companies~~consideration ~~under~~of ~~common control~~$11,000 ~~the~~including ~~excess~~cumulative ofunpaid ~~fair~~dividends ~~value over the carrying value~~ of ~~the assets sold, representing~~ $1~~.9 million has been credited to deficit. On February 8~~, ~~2002, Câblage QMI Inc~~000. ~~redeemed the preferred shares issued previously.~~

(b) In 2002, CF Cable TV Inc. proceeded to a reorganisation of the subsidiaries under the control of CF Cable TV Inc.: Vidéotron (RDL) Ltéee, Vidéotron (Granby) Ltée, TDM Newco Ltée, Vidéotron (Richelieu) Ltée, Vidéotron (Laurentien) Ltée. These subsidiaries were merged or wound up into a parent company, renamed Vidéotron (Regional) Ltée, subsidiary of CF Câble TV Inc.-11-

~~(c)~~CF InCABLE ~~March~~TV ~~and December 2002, Télécâble Charlevoix (1977) Inc~~INC., aNotes ~~subsidiary~~to ofInterim ~~the~~Consolidated ~~Company,~~financial ~~redeemed~~statements ~~respectively~~(continued) ~~from~~(unaudited) ~~its~~As ~~non-controlling~~at ~~shareholder~~March 8031,~~000~~ ~~and 109,000 of Class “D” Preferred Shares for a total consideration of $0.8 million and $1.2 million including cumulative unpaid dividends of $0.1 million.~~2004

83. Depreciation and amortization:

CF CABLE TV INC. Notes to the consolidated financial statements for the nine-month period ended September 30, 2003 (unaudited)

March 31, March 31,

2003 2004

(in thousands of dollars)

Fixed assets $ 3,458 $ 3,825

Deferred charges 27 28

$ 3,485 $ 3,853

34. Financial expenses:

September 30,2003 September 30,2002
March 31, March 31,
(in thousands of dollars)
2003 2004
Third parties
(in thousands of dollars)
Interest on long-term debt $ 7,451 $ 8,269
Third parties
Amortisation of deferred financing costs 200 200
Interest on long-term debt $ 2,515 $ 2,273
(Gain) loss on foreign denominated short-term monetary items (466 ) 27
Amortisation of deferred financing costs 67 67
7,185 8,496
Gain on foreign currency short-term monetary items (24 ) (46 )
Parent company:
Other interests and penalty charges (2 ) 16
Interest - other (2,057 ) (231 )
2,556 2,310
$ 5,128 $ 8,265
Parent company:
Interest income (558 ) (239 )
Affiliated companies:
Interest expense — 3,683
$ 1,998 $ 5,754

45. Fixed assets:

September 30, 2003
December 31, 2003
Cost Accumulateddepreciation Net bookvalue
Accumulated Net book
(in thousands of dollars)
Cost depreciation value
Receiving and distribution networks $ 328,703 $ 155,103 $ 173,600
(in thousands of dollars)
Furniture and equipment 19,295 17,563 1,732
Receiving and distribution networks $ 342,934 $152,632 $190,302
Buildings 4,767 1,736 3,031
Furniture and equipment 19,355 17,539 1,816
Land 737 — 737
Buildings 4,767 2,040 2,727
$ 353,502 $ 174,402 $ 179,100
Land 737 — 737
$ 367,793 $172,211 $195,582

			December 31 , 2002
	Cost		Accumulated depreciation		Net book value
				(in thousands of dollars)
Receiving and distribution networks	$	318,860	$	140,755	$	178,105
Furniture and equipment		19,269		17,142		2,127
Buildings		4,767		1,617		3,150
Land		737		—		737
	$	343,633	$	159,514	$	184,119

-12-

9CF CABLE TV INC. Notes to Interim Consolidated financial statements (continued) (unaudited) As at March 31, 2004

~~CF CABLE TV INC~~5. ~~Notes~~Fixed toassets ~~the consolidated financial statements for the nine-month period ended September 30, 2003~~ (~~unaudited~~continued):

5. Deferred charges:

March 31, 2004

Accumulated Net book

Cost depreciation value

(in thousands of dollars)

Receiving and distribution networks $ 347,181 $ 156,311 $ 190,870

Furniture and equipment 19,355 17,651 1,704

Buildings 4,767 2,074 2,693

Land 737 — 737

$ 372,040 $ 176,036 $ 196,004

	September 30,2003		December 31,2002
	(in thousands of dollars)
Long-term financing	$	972	$	1,172
Development and pre-operating costs		103		185
Employee future benefit costs		3,457		3,457
	$	4,532	$	4,814

6.	Deferred charges:

6. Accounts payable and accrued liabilities:

December 31, March 31,

2003 2004

(in thousands of dollars)

Long-term financing fees $ 905 $ 839

Development and pre-operating costs 73 44

Employee future benefit costs 3,434 3,434

$ 4,412 $ 4,317

	September 30,2003		December 31,2002
	(in thousands of dollars)
Trade accounts payable	$	3,690	$	4,294
Royalties and service providers’ dues		20,006		17,723
Employees’ salaries and dues		1,091		1,153
Provincial and federal sales tax		1,403		1,366
Interest due		1,966		5,083
	$	28,156	$	29,619

7.	Accounts payable and accrued liabilities:

7. Amounts payable to affiliated companies:

December 31, March 31 ,

2003 2004

(in thousands of dollars)

Trade accounts payable $ 4,557 $ 3,692

Royalties and service providers’ dues 18,493 9,433

Employees’ salaries and dues 1,269 1,242

Provincial and federal sales tax 1,368 1,327

Interest due 4,099 1,885

$ 29,786 $ 17,579

	September 30,2003		December 31,2002
	(in thousands of dollars)
Quebecor Media Inc.	$	3	$	4
Vidéotron Télécom ltée		—		147
Groupe TVA Inc.		—		255
Câblage QMI Inc.		33		69
Vidéotron TVN Inc.		281		53
	$	317	$	528

-13-

10CF CABLE TV INC. Notes to Interim Consolidated financial statements (continued) (unaudited) As at March 31, 2004

CF CABLE TV INC. Notes to the consolidated financial statements for the nine-month period ended September 30, 2003 (unaudited)

8.	Long-term debt:

September 30,2003 December 31,2002
December 31, March 31,
(in thousands of dollars)
2003 2004
Senior Secured First Priority Notes at 9.125 % interest rate (a) $ 102,052 $ 119,266
(in thousands of dollars)
Mortgage (b) — 25
Senior Secured First Priority Notes at 9.125 % interest rate $ 98,015 $ 99,134
$ 102,052 $ 119,291

~~(a)~~ Senior Secured First Priority Notes:

Senior Secured First Priority Notes having a par value of US$75.6 million (~~2002~~2003 - —US$75.6 million), bear interest at the rate of 9.125%, and mature in 2007. The Notes are redeemable at the option of the Company on or after July 15, 2005 at 100% of the principal amount. These Notes are secured by first-ranking hypothecs on substantially all of the assets of CF Cable TV Inc. and certain of its subsidiaries. In addition, CF Cable TV Inc. and its subsidiaries have provided, to the extent permitted under the Notes Trust Indenture, guarantees in favour of the lenders under its parent credit agreement. In the case of realisation on the assets of CF Cable TV Inc. and certain of its subsidiaries, the proceeds thereof would be firstly used to repay, on a pro rata basis, and as described in an inter-creditor agreement entered into on September 29, 2001, between, among others, the agent under the parent’s credit agreement and the trustee under the Notes Trust Indenture, the Senior Secured First Priority Notes and the first priority guarantees provided to the lenders under the parent’s credit agreement. ~~In May 2002, the Company repurchased US$2.2 million of these Notes.~~

~~(b)~~9. ~~Mortgage~~Due to parent or affiliated companies:

The mortgage bears interest at a rate of 11% and matures in 2003.

December 31 , March 31 ,

2003 2004

(in thousands of dollars)

Inter-company Deeply Subordinated Debt, bank prime rate

plus 2% and repayable after the total repayment of

the Senior Secured First Priority Notes (a) $ 25,969 $ 25,969

Deeply Subordinated Debt (b) — 165,000

$ 25,969 $ 190,969

9.a) ~~Due~~Deeply toSubordinated ~~parent company~~Debt:

	September 30,2003		December 31,2002
	(in thousands of dollars)
Inter-company Deeply Subordinated Debt, bank prime rate
plus 2% and repayable after the total repayment of
the Senior Secured First Priority Notes	$	25,969	$	25,969

The repayment of capital and interest on the inter-company Deeply Subordinated Debt is subordinated to the repayment of the Senior Secured First Priority Notes maturing in 2007. The parent company waives annually the interests on this debt.

11-14-

CF CABLE TV INC. Notes to ~~the~~Interim ~~consolidated~~Consolidated financial statements ~~for~~(continued) ~~the~~(unaudited) ~~nine-month~~As ~~period~~at ~~ended~~March ~~September 30~~31, ~~2003 (unaudited)~~2004

109. ~~Comparative~~Due ~~figures~~to parent or affiliated companies (continued):

~~Certain~~b) ~~figures~~Deeply ofSubordinated ~~2002 have been reclassified to conform with the presentation adopted in the figures for the nine months ended September 30, 2003.~~Debt:

12On January 16, 2004, the Company borrowed $165.0 million from Vidéotron (1998) Ltée, an affiliated company. This loan bears interest at 10.75% and matures on January 16, 2019. The repayment of capital and interest on the inter-company Deeply Subordinated Debt is subordinated to the repayment of the Senior Secured First Priority Notes maturing in 2007. On the same date, the Company, invested the whole proceeds from this loan into 165,000 Preferred Shares Class “D” of Vidéotron (1998) Ltée carrying a fixed annual cumulative preferred dividend of 11%.

~~SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized~~10. CFShare ~~CABLE TV INC. (Signed) Claudine Tremblay ——————————————— By~~capital: ~~Claudine Tremblay Assistant Secretary Date: November 28, 2003~~

Authorised :

100,000,000 preferred shares, without par value, ranking prior to the common shares with regard to payment of dividends and repayment of capital, without voting rights, carrying a fixed annual cumulative preferred dividend at a rate equal to the prime rate of the lead banker of the Company plus 2.25% and redeemable.

100,000,000 common shares, without par value, with voting rights and participating

December 31 , March 31,

2003 2004

(in thousands of dollars)

Issued and paid:

5,000,230 common shares $235,000 $165,000

On January 16, 2004, the Company reduced its issued and paid-up capital on common shares for a total amount of $70.0 million.

11.

Contingencies and guarantees:

Contingencies:

In 1999, the purchaser of a business sold by the parent Company initiated an arbitration by which he claimed an amount of $8.6 million as a reduction of the purchase price of the business. It is not possible at this stage to determine the outcome of this claim.

In the normal course of business, the Company is a party to various claims and lawsuits. Even though the outcome of these various pending cases as at March 31, 2004, cannot be determined with certainty, the Company believes that their outcome will not have a material adverse impact on its financial position or operating results.

-15-

CF CABLE TV INC.
Notes to Interim Consolidated financial statements (continued)
(unaudited)

As at March 31, 2004

11.

Contingencies and guarantees (continued):

Guarantees:

The Company has guaranteed a portion of the residual values of certain assets under operating leases for the benefit of the lessor. If the fair value of the assets, at the end of their respective lease terms, is less than the residual value guaranteed, the Company must, under certain conditions, compensate the lessor for a portion of the shortfall. As at March 31, 2004, the maximum exposure in respect of these guarantees is $0.2 million and no amount has been recorded in the financial statements.

-16-

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

CF CABLE TV INC.

(Signed) Yvan Gingras

——————————————
By: Yvan Gingras
Executive Vice-President, Finance
and Operations

Date: May 26, 2004

						September 30, 2003
December 31, 2003
			Cost			Accumulateddepreciation			Net bookvalue
					Accumulated			Net book
						(in thousands of dollars)
			Cost		depreciation			value
	Receiving and distribution networks		$	328,703		$	155,103		$	173,600
			(in thousands of dollars)
	Furniture and equipment			19,295			17,563			1,732
Receiving and distribution networks		$	342,934		$152,632			$190,302
	Buildings			4,767			1,736			3,031
Furniture and equipment			19,355		17,539			1,816
	Land			737			—			737
Buildings			4,767		2,040			2,727
			$	353,502		$	174,402		$	179,100
Land			737		—			737
		$	367,793		$172,211			$195,582


						March 31, 2004


					Accumulated			Net book
		Cost			depreciation			value

			(in thousands of dollars)

Receiving and distribution networks	$	347,181		$	156,311		$	190,870
Furniture and equipment		19,355			17,651			1,704
Buildings		4,767			2,074			2,693
Land		737			—			737

	$	372,040		$	176,036		$	196,004


		December 31,		March 31	,
		2003		2004

		(in thousands of dollars)

Trade accounts payable	$	4,557	$	3,692
Royalties and service providers’ dues		18,493		9,433
Employees’ salaries and dues		1,269		1,242
Provincial and federal sales tax		1,368		1,327
Interest due		4,099		1,885

	$	29,786	$	17,579


		December 31	,		March 31	,
		2003			2004

		(in thousands of dollars)

Inter-company Deeply Subordinated Debt, bank prime rate
plus 2% and repayable after the total repayment of
the Senior Secured First Priority Notes (a)	$	25,969		$	25,969

Deeply Subordinated Debt (b)		—			165,000


	$	25,969		$	190,969

Highlights Three-month periods ended March 31

SIGNATURE

Highlights
Three-month periods ended March 31

Filing Compare · CF CABLE TV INC