Rogers Communication Inc.’s proposal for providing wireless service on Toronto’s subway indicates the company’s competitors will be consulted in the design and planning of upgrades, but includes no specifics about the terms required for Bell and Telus to access the network. Rogers announced in April that it was buying the Canadian operations of BAI Communications,…
Rogers’ Proposed TTC Framework Commits to Consultations, but Short on Details
Rogers Will Cut At Least 4,000 Jobs if Cabinet Approves Shaw Buyout, Claims Conservative MP
Rogers Communications Inc. will cut 4,000 to 5,000 jobs if the federal cabinet approves its attempted buyout of rival telecommunications company Shaw Communications Inc., claims Conservative MP Rick Perkins, who says he was told this information by Rogers insiders. “Successful acquisitions obviously require job cuts and generally don’t involve job increases. And Rogers told the Competition…
Canada Judge Calls Into Question Regulator’s Argument to Block Rogers-Shaw Deal
A Canada federal judge called into question the competition bureau’s argument to block Rogers Communications Inc’s C$20 billion ($14.9 billion) bid for Shaw Communications Inc as the court hearing kicked off on Tuesday. The proceeding in a Federal Court of Appeal in Ottawa is the antitrust bureau’s latest attempt to kill the deal, saying the…
Champagne’s Rogers-Shaw Decision to Come ‘Only After’ There’s Clarity in Legal Battle
Canada’s Industry Minister says he will render his decision on Rogers Communications Inc.’s proposed $26-billion purchase of Shaw Communications Inc. only after there is clarity in the ongoing legal battle. The Saturday statement from Francois-Philippe Champagne comes days after the Competition Tribunal dismissed an application from Canada’s competition watchdog seeking to block the takeover, a decision the…
Rogers, Shaw Welcome Tribunal’s Clearing of Merger Path, Extend Closing
Rogers Communications Inc. and Shaw Communications Inc. said they welcome the Competition Tribunal’s dismissal of an effort by the Competition Bureau to block their $26-billion merger as they extended the closing date by a month, while the Commissioner of Competition said he’s considering next moves. The Competition Tribunal issued a notice late Thursday that it…
Canada’s Rogers Posts Strong Revenue on Growth in Wireless, Media Businesses
Canada’s Rogers Communications Inc on Wednesday beat quarterly revenue estimates as the wireless carrier benefited from higher roaming charges and demand for pricier plans, while its media business got a boost from a rebound in live sporting events. The company added 164,000 monthly bill paying wireless phone subscribers in the third quarter despite decades-high inflation in…
Rogers Clocks 4 Percent Revenue Growth in Q1 Backed by Improving Canadian Economy; Raises FY22 Guidance
Rogers Communications Inc. reported first-quarter FY22 revenue growth of 4 percent year-on-year to C$3.62 billion. Service revenue grew 6 percent Y/Y to C$3.2 billion. Rogers attracted 66,000 net postpaid mobile phone subscribers, up from 22,000 last year, with a churn of 0.71 percent. Wireless service revenue increased by 7 percent Y/Y, mainly due to higher roaming…
Rogers Communications Raises C$2 Billion via Private Debt Offering
Rogers Communications Inc (RCI) priced C$2 billion 5.0 percent fixed-to-fixed rate subordinated notes due 2081 in a private Canadian offering. The net proceeds from the note issue will be C$1.98 billion. RCI will utilize the proceeds to fund a portion of the cash investment required to acquire the 3500 MHz spectrum licenses awarded following the…
Rogers Share Price Dips as Family Dispute Deepens Over Board Control
The Rogers family dispute over control of one of Canada’s telecom giants already saw the company’s shares dip this week, as the rift between former chairman Edward Rogers and his mother and sisters descended into legal action. At the heart of the dispute is a disagreement over who has legitimate control of the company’s board. The Rogers…
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