Welcome to our dedicated page for Rogers Communications news (Ticker: RCI), a resource for investors and traders seeking the latest updates and insights on Rogers Communications stock.
Rogers Communications Inc. (RCI) is a pivotal force in Canada's telecommunications and media landscape. Established in 1960, Rogers has consistently introduced innovative technology, connecting millions of Canadians coast-to-coast. The company excels in providing wireless services, high-speed internet, cable television, and landline phone services.
With over 11 million wireless subscribers, Rogers is the largest wireless service provider in Canada, accounting for one-third of the total market. The wireless segment alone generates over half of Rogers' revenue, highlighting its critical role in the company's financial health. In recent years, Rogers has bolstered its revenue through the strategic acquisition of Shaw Communications, expanding its cable segment to cover 35% of total revenue.
Beyond telecommunications, Rogers has a significant footprint in the media sector. The company owns and operates numerous television and radio stations and is a noteworthy entity in Canadian sports. Rogers is the owner of the Toronto Blue Jays and holds stakes in several major sports teams, including the Toronto Maple Leafs, Raptors, FC, and Argonauts, underscoring its deep-rooted involvement in the Canadian sports scene.
Rogers’ commitment to innovation and customer satisfaction is reflected in its continuous advancement of network technology and expansion of service offerings. Notable recent achievements include the transition to 5G networks and the integration of home monitoring systems, further enhancing value for customers.
Financially, Rogers has demonstrated robust performance, recently reporting record results for 2023. This success was driven by the strong execution of the Shaw acquisition and industry-leading performance, making Rogers the preferred carrier for Canadians for the second consecutive year.
In terms of sustainability and social impact, Rogers remains proactive, as evidenced by its 2023 Sustainability and Social Impact Report. The company champions climate change initiatives and social responsibility, with leadership figures like Ms. Martha Rogers playing crucial roles in these endeavors.
Rogers continues to form strategic partnerships to extend its reach and enhance customer experience. A recent two-year agreement with Amazon and the NHL allows more fans to access live games across multiple devices, exemplifying Rogers' innovative approach to content distribution.
Rogers Communications has received clearance from the Competition Bureau to proceed with its acquisition of Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. The Competition Bureau issued a 'no-action letter' on December 12, 2024, indicating it won't challenge the acquisition. The deal still requires league approvals and CRTC approval. Upon completion, Rogers will become the majority owner of MLSE, which is described as one of the most prestigious sports and entertainment organizations globally. The acquisition aligns with Rogers' core business strategy focusing on live sports and entertainment.
Rogers has achieved a significant milestone as its net-zero greenhouse gas emissions targets received approval from the Science Based Targets initiative (SBTi), becoming the first national carrier in Canada to achieve this recognition. The company has already reduced scope 1 and 2 GHG emissions by 33% since 2019. Their action plan focuses on four key areas: increasing energy efficiencies, transitioning to electric fleet, expanding renewable energy, and engaging suppliers. Rogers aims to reduce absolute scope 1 and 2 emissions by 50% by 2030 and achieve net-zero emissions across all scopes by 2050, while ensuring 80% of suppliers set science-based targets by 2029.
Rogers Communications has declared a quarterly dividend of 50 cents per share on its Class B Non-Voting shares and Class A Voting shares. The dividend will be paid on January 3, 2025 to shareholders of record on December 9, 2024. Shareholders can reinvest their cash dividends in additional Class B Shares through the company's Dividend Reinvestment Plan, with shares being issued from treasury at a 2% discount from the Average Market Price.
Rogers Communications reported strong Q3 2024 results with 227,000 combined mobile phone and Internet net additions. Total service revenue grew 1% to $4.57B, while adjusted EBITDA increased 6% to $2.55B. The company achieved record margins in Cable and Wireless, with Wireless service revenue up 2% and Cable adjusted EBITDA up 5%. Free cash flow rose 23% to $915M. Rogers announced a $7B structured equity financing deal to reduce leverage, expecting year-end leverage at 3.7x. The company reaffirmed its 2024 outlook, projecting 8-10% total service revenue growth and 12-15% adjusted EBITDA growth.
Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) has announced its plans to release third quarter 2024 financial results on Thursday, October 24, 2024, before North American markets open. The company will host a teleconference with the investment community at 8:00 a.m. ET to discuss the results and outlook.
Investors can access the live webcast on the Investor Relations section of Rogers' website at investors.rogers.com. Alternatively, they can dial in at 416-639-5883 (1-844-282-4459 toll-free for North America) using passcode 3793238#. An archive of the presentation will be available on the website, and a telephonic re-broadcast will be accessible for two weeks following the teleconference.
Rogers Communications and Comcast have announced a collaboration to implement Comcast's leading network design across Rogers' footprint in Canada. This industry-first implementation aims to deliver faster speeds, enhanced reliability, and lower latency to Canadian customers, similar to what Comcast offers in the U.S.
The partnership leverages Comcast's global technology platform, which incorporates artificial intelligence, cloud-based network functions, and edge computing. These technologies enable Comcast to provide superior internet experiences by identifying and solving network issues proactively, efficiently scaling capacity, and reducing latency.
This collaboration positions Rogers to quickly upgrade its network and roll out next-generation DOCSIS 4.0 Unified technology, offering symmetrical multi-gig speeds nationwide. Comcast Technology Solutions will provide Rogers with its new Access Network Solution, including implementation roadmap, technical advisory services, and operational support.
Rogers has announced a significant acquisition, signing an agreement to purchase Bell's 37.5% ownership stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. This major deal in the Canadian sports and entertainment industry will be discussed in an interview featuring Rogers President and CEO Tony Staffieri and Executive Chair Edward Rogers with Hockey Night in Canada's Ron MacLean.
The interview broadcast footage will be available via pool feed at 3 p.m. ET today. Detailed technical specifications for accessing the pool feed have been provided, including satellite coordinates and video format information. This acquisition represents a substantial investment by Rogers in the sports and entertainment sector, potentially impacting its market position and future strategies.
Rogers Communications Inc. (TSX: RCI.A and RCI.B, NYSE: RCI) has announced an agreement to acquire Bell's 37.5% ownership stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. This transaction will make Rogers the majority owner of MLSE with a 75% controlling interest. The deal aims to expand Rogers' investment in Canadian sports and entertainment, with a commitment to bringing more championships to Canada.
Key points:
- Rogers plans to continue investing in MLSE's sports teams
- Financing will not affect Rogers' debt leverage and will include private investors
- The agreement ensures long-term Canadian ownership of iconic teams
- Sportsnet will continue to broadcast 50% of Maple Leafs regional games and 50% of Raptors games controlled by MLSE
- The transaction is subject to league and regulatory approvals
Rogers Communications has been named the Official Telecommunications Partner of the 2024 Presidents Cup, set to take place at The Royal Montreal Golf Club from September 24 to 29. This marks the event's return to Canada after 17 years. As part of the partnership, Rogers will offer various golf-themed experiences in the Fan Zone, including a putting green, golf simulation game, and a 360-degree snapshot feature.
Rogers customers will have access to VIP experiences at the tournament through the company's new national program, Rogers Beyond the Seat. The partnership aligns with Rogers' commitment to growing golf in Canada and building strong communities in Quebec. International Team Captain and Team Rogers athlete Mike Weir expressed excitement about the partnership, highlighting Rogers' continued support for golf in Canada.
Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) has declared a quarterly dividend of 50 cents per share on its outstanding Class B Non-Voting shares and Class A Voting shares. The dividend will be paid on October 3, 2024 to shareholders of record as of September 9, 2024. Shareholders can opt to reinvest their cash dividends in additional Class B Shares through Rogers' Amended and Restated Dividend Reinvestment Plan. For this quarterly dividend, Class B Shares will be issued from treasury at a 2% discount from the Average Market Price. The Plan details are available on Rogers' investor relations website, the Plan agent's website, and under Rogers' profile on SEDARPLUS and the SEC's website.
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