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 Inc. (RCI) has priced a private offering of senior notes totaling US$7.05 billion in US dollars and $4.25 billion in Canadian dollars. The offering consists of multiple series of senior notes, including 2.95% senior notes due 2025 and 5.25% senior notes due 2052. The net proceeds are expected to reach approximately US$6.95 billion and $4.22 billion, with funds allocated toward the cash consideration for the pending acquisition of Shaw Communications Inc. and associated expenses. The offerings are set to close on March 11, 2022.
Rogers Communications has filed its 2021 annual report with Canadian and U.S. securities regulators, featuring audited financial statements and management analysis. The report is accessible via the Canadian Securities Administrators and U.S. Securities and Exchange Commission websites, as well as Rogers’ Investor Relations page. Shareholders can request paper copies at no charge. The Annual General Meeting is scheduled for April 20, 2022, at 11:00 AM, and will be held virtually. Rogers continues to offer high-quality communication and media services across Canada.
Rogers Communications Inc. (RCI) has announced the pricing of a private offering of US$750 million 5.25% subordinated notes due 2082. The net proceeds, approximately US$740 million, will be used to repay certain senior notes and short-term borrowings related to the acquisition of 3500 MHz spectrum licenses in 2021. The offering is expected to close on February 11, 2022. The notes will not be registered under the Securities Act and are offered only to qualified institutional buyers and non-U.S. persons, complying with relevant regulations.
Rogers Communications reported solid operational improvements in Q4 2021, driven by a strong recovery in its Wireless segment, posting 141,000 new postpaid subscribers and a 6% rise in service revenue. Adjusted EBITDA grew 5% alongside a blended ARPU increase to $51.47. The Cable segment remained stable with 21,000 new broadband subscribers. Media revenue surged 26% due to live sports broadcasting. For 2022, revenue is expected to grow 4% to 6% and adjusted EBITDA 6% to 8%, with capital expenditures projected at $2.8 to $3.0 billion.
Rogers Communications is investing nearly $200 million to upgrade its network in New Brunswick, enhancing connectivity for approximately 314,000 homes and businesses in Dieppe, Moncton, Riverview, and Shediac. This upgrade will provide 100% pure fibre services, including Ignite Internet with speeds up to 1.5 Gbps, Ignite TV, and Ignite SmartStream. The initiative aims to deliver faster and more reliable service, supporting advanced technologies and contributing to community development through various connectivity programs.
Harmonic (NASDAQ: HLIT) has partnered with Rogers Communications to enhance its multi-gigabit broadband services using Harmonic's CableOS® cloud-native platform. This collaboration supports the deployment of a virtualized access platform compatible with DOCSIS 4.0 technology, improving connectivity and reducing operational costs for Rogers. The CableOS Platform currently powers over 3 million cable modems for major operators worldwide, showcasing Harmonic's strong market presence. This partnership is expected to deliver faster internet speeds and higher reliability for Rogers' customers.
Rogers Communications reported strong third-quarter results with total revenue of CAD 3.67 billion, nearly flat year-over-year, and a net income of CAD 490 million, down 4%. The company's Wireless segment added 175,000 postpaid customers, achieving a churn rate of 0.95%. Cable revenue grew by 3%, attributed to a rise in broadband users. Despite these gains, adjusted EBITDA declined by 2% primarily due to lower Media revenue, which fell by 3%. The ongoing acquisition of Shaw Communications is expected to close in early 2022, promising substantial investments in 5G networks.
Rogers Communications announces the departure of CFO Tony Staffieri effective September 29, 2021, with Paulina Molnar appointed as interim CFO. Molnar, who has been with Rogers for 16 years, brings 26 years of industry experience to the role. The company is moving forward with its Shaw transaction as anticipated, and will report its Q3 2021 results on October 21, 2021, aligning with the previous outlook shared on July 21, 2021. The statement includes caution about forward-looking statements and the inherent risks involved.
Rogers Communications has announced that select Rogers Infinite and Ignite TV plans now include exclusive offers for Disney+, available for up to 12 months. Customers can access a wide array of Disney titles, from classics to new releases. This partnership, the first between a Canadian telecom provider and Disney, enhances the viewer's experience by allowing easy access to content through voice commands. Customers can enjoy seamless streaming on the largest 5G network in Canada, further enriching family entertainment options, including simultaneous streaming on multiple devices.
Rogers Communications reported solid Q2 2021 results with total revenue growth of 14% year-over-year, reaching C$3.58 billion. Wireless service revenue grew by 2%, while adjusted EBITDA increased by 6%. The company added 99,000 postpaid subscribers, with churn down to 0.80%. Cable revenue rose 5%, and media revenue soared 84% due to recovering advertising linked to sports. Although net income increased 8% to C$302 million, cash flow from operating activities fell 29%. The acquisition of Shaw Communications is valued at C$26 billion and expected to close in 2022.
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