<DOCUMENT>
<TYPE>EX-12.3
<SEQUENCE>10
<FILENAME>a2147420zex-12_3.txt
<DESCRIPTION>EXHIBIT 12.3
<TEXT>
<Page>
                                                                    EXHIBIT 12.3

                                 VIDEOTRON LTEE
            COMPUTATION OF RATIO OF EBITDA TO CASH INTEREST EXPENSE
   (DOLLARS IN MILLION, EXCEPT FOR RATIO OF EBITDA TO CASH INTEREST EXPENSE)

<Table>
<Caption>
                                                                                                   NINE MONTHS
                                                                                                      ENDED
                                                                 YEAR ENDED DECEMBER 31,          SEPTEMBER 30,
                                                              ------------------------------   -------------------
                                                                2001       2002       2003       2003       2004
                                                              --------   --------   --------   --------   --------
<S>                                                           <C>        <C>        <C>        <C>        <C>
CANADIAN GAAP
EBITDA(1)...................................................   $168.2     $210.4     $277.7     $202.8     $339.0
Cash interest expense(2)....................................   $ 85.5     $ 76.4     $ 65.1     $ 49.1     $ 44.1
                                                               ------     ------     ------     ------     ------
Ratio of EBITDA to cash interest expense....................      2.0        2.8        4.3        4.1        7.7
                                                               ------     ------     ------     ------     ------
</Table>

------------

(1) As defined and calculated in note 7 to "Selected Consolidated Financial and
    Operating Data."

(2) As defined and calculated in note 9 to "Selected Consolidated Financial and
    Operating Data."

</TEXT>
</DOCUMENT>