Rogers Communications 株価情報 (NYSE: RCI)

最新ニュース Rogers Communications (NYSE:RCI) 株価情報

Rogers Communications

Rogers Communications is the largest wireless service provider in Canada, with its more than 11 million subscribers equating to one third of the total Canadian market. Its wireless business accounted for more than half of total revenue and has increasingly been providing a bigger portion of total company sales over the last several years. Rogers' cable segment, which provides about 35% of total revenue after acquiring Shaw, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays. Rogers' significant exposure to sports also includes ownership stakes in the Toronto Maple Leafs, Raptors, FC, and Argonauts.

Rogers Communications Inc

ROGERS COMMUN INC A by Rogers Communications, Inc.

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Rogers Communication shares are trading lower. The company reported Q4 financial results yesterday.

Editor&#8217;s Note: The story has been updated to correct the original revenue and eps numbers reported in USD and erroneously compared with CAD consensus estimate.
Rogers Communication, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares are <a href="https://www.benzinga.com/pressreleases/25/01/g43331914/rogers-communications-reports-fourth-quarter-2024-results-announces-2025-financial-guidance">trading relatively flat on Thursday.</a>
In U.S. dollars, the company reported fourth quarter adjusted earnings per share of $1.04, beating the street view of $0.97. Quarterly sales of $3.92 billion beat the analyst consensus estimate of $3.84 billion.
In Canadian dollars, the company reported fourth quarter adjusted earnings per share of C$1.46, beating the street view of C$1.36. Quarterly sales of C$5.48 billion beat the analyst consensus estimate of C$5.39 billion. GAAP earnings per share were C$1.02, up 65% year over year.
Wireless service revenue increased by 2% this quarter, primarily as a result of the cumulative impact of growth in mobile phone subscriber base over the past year.
Wireless equipment revenue increased by 9%, primarily as a result of an increase in subscribers purchasing higher-value devices. Cable service revenue was stable this quarter, improving sequentially from the third quarter and from the prior year.
The company declared a <a href="https://www.benzinga.com/pressreleases/25/01/g43331916/rogers-communications-declares-50-cents-per-share-quarterly-dividend">quarterly dividend </a>totaling 50 cents per share on each of its outstanding Class B Non-Voting shares and Class A Voting shares.&nbsp;The declared quarterly dividend will be paid on April 2.
Also Read: <a href="https://www.benzinga.com/general/gaming/25/01/43342224/ryan-cohen-moves-gamestop-shares-to-personal-name-sparking-speculation-on-next-steps">Ryan Cohen Moves 36.8 Million GameStop Shares To Personal Name, Sparking Speculation On Next Steps</a>
Media revenue increased by 10% this quarter, primarily as a result of higher sports- and&nbsp;entertainment-related revenue, but lower than expectations as previously announced.
Consolidated adjusted EBITDA increased 9% and adjusted EBITDA margin increased by 250 basis points, primarily as a result of ongoing productivity and cost efficiencies.
As at December&nbsp;31, the company had C$4.8 billion of available liquidity&nbsp;(December&nbsp;31, 2023 &#8211; C$5.9 billion), including C$0.9 billion in cash and equivalents.
&#8220;The fourth quarter caps three straight years of industry-leading results,&#8221; said Tony Staffieri, President and CEO. &#8220;As I look to the year ahead, our 2025 outlook reflects continued growth, strong free cash flow, and investment in our core businesses.&#8221;
Outlook: For FY25, the company sees total service revenue to increase 0% to 3%, adjusted EBITDA growth of 0% to 3%, and capital expenditures of $3.8 billion to $4.0 billion.
"In 2025, we expect to have the financial flexibility to maintain our network advantages and to continue to return cash to shareholders," the company said.
Price Action: RCI shares are trading higher by 0.54% to $28.91 at the last check on Thursday. (updated)
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General

Rogers Communications Q4 Earnings Beat Expectations, Expects Upto 3% EBITDA Growth In 2025 (CORRECTED)

Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) reported quarterly earnings of C$1.46 per share which beat the analyst consensus estimate of C$1.36 by 7.35 percent. This is a 22.69 percent increase over earnings of C$1.19 per share from the same period last year. The company reported quarterly sales of C$5.480 billion which beat the analyst consensus estimate of C$5.392 billion by 1.63 percent. This is a 2.72 percent increase over sales of C$5.335 billion the same period last year.

Earnings Beats

CORRECTION: Rogers Communications Q4 2024 Adj. EPS C$1.46 Beats C$1.36 Estimate, Sales C$5.480B Beat C$5.392B Estimate

Rogers Communications Sees FY25 Service Revenue Growth Of 0% - 3%

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Earnings Scheduled For January 30, 2025

Barclays analyst Kannan Venkateshwar downgrades Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) from Overweight to Equal-Weight.

Downgrades

Analyst Ratings

Barclays Downgrades Rogers Communications to Equal-Weight

Rogers Communication, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">relatively flat on Friday.</a>
The company is set to release these details on Thursday, January 30, 2025, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42782795/rogers-communications-notice-for-4q24-results-teleconference-january-30-2025-at-8-00-a-m-et" rel="noreferrer noopener">before the markets open.</a>
For the full year 2024, Rogers now expects annual consolidated service revenue growth just over 7%, compared to its guidance range of 8% &#8211; 10% issued in February of 2024, driven by weakness in media revenue during the fourth quarter. All other guidance items remain unchanged.
Tony Staffieri, President and CEO of Rogers, acknowledged the softness in media revenue for the fourth quarter but emphasized the company&#8217;s strong performance throughout the year.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42782683/tesla-hits-record-ev-sales-in-china-despite-global-dip" rel="noreferrer noopener">Tesla Hits Record EV Sales In China Despite Global Dip: Report</a>
&#8220;Media revenue in the fourth quarter was softer than expected affecting our revenue target for the year,&#8221; said Tony Staffieri, President and Chief Executive Officer,&nbsp;Rogers.
In the third quarter, Rogers reported adjusted earnings per share of $1.04, beating analyst estimates of $0.98. Quarterly sales amounted to C$5.129 billion,<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41525025/rogers-communications-q3-earnings-beat-expectations-amid-ongoing-network-investment-plans" rel="noreferrer noopener"> up 1% from the previous year.</a>
Media revenue rose by 11% this quarter, driven mainly by higher sports-related revenue.
Additionally, after the quarter, Rogers entered into a non-binding agreement with a global financial investor for a C$7 billion equity investment to fund network expansion. The deal is expected to close in the fourth quarter, pending the finalization of contracts.
Price Action: RCI shares are trading higher by 0.16% to $30.43 premarket at last check Friday.
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Rogers Communications Revises 2024 Revenue Outlook: Media Weakness Takes A Toll

For the full year 2024, Rogers expects annual consolidated service revenue growth just over 7%, compared to its guidance range of 8%-10% issued in February of 2024, driven by weakness in media revenue during the fourth quarter. All other guidance items remain unchanged.&nbsp;
"Media revenue in the fourth quarter was softer than expected affecting our revenue target for the year," said Tony Staffieri, President and Chief Executive Officer,&nbsp;Rogers. "Overall, we continued with industry-leading execution throughout the year&nbsp;and look forward to sharing the details during our fourth quarter call."

Rogers Communication Says It Expects FY24 Service Revenue Growth Just Over 7%, Compared To Its Guidance Range Of 8%-10% Issued In February, Driven By Weakness In Media Revenue In Q4

Rogers Communications&nbsp;(TSX:<a class="ticker" href="https://www.benzinga.com/stock/RCI#TSX">RCI</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>)&nbsp;today announced it has received clearance from the Competition Bureau to proceed with the acquisition of Bell's 37.5% stake in Maple Leaf Sports &amp; Entertainment.
Rogers and Bell received a&nbsp;"no-action letter"&nbsp;on December 12, 2024, from the Bureau, indicating that the Commissioner of Competition does not intend to challenge Rogers acquisition of Bell's interest in MLSE.
The deal is subject to league approvals and approval from the CRTC.

TSX:RCI

Rogers Provides Update On Its Acquisition Of Bell's 37.5% Stake In Maple Leaf Sports & Entertainment; Rogers And Bell Received A "No-Action Letter" On December 12, 2024, From The Bureau, Indicating That The Commissioner Of Competition Does Not Intend To Challenge Rogers Acquisition Of Bell's Interest In MLSE

National Football League fans, specifically those of the Miami Dolphins, will likely be happy to learn that they can now invest in the team thanks to a rule allowing <a href="https://www.benzinga.com/general/sports/24/08/40607642/jeff-bezos-could-have-competition-if-he-wants-the-nfls-seattle-seahawks-private-equity-investments">private equity investment.</a>
What Happened: The Dolphins are among the first NFL teams to leverage the new minority investment rule, announcing several recent investments. This follows reports that Citadel LLC CEO Ken Griffin was <a href="https://www.benzinga.com/news/23/11/35908281/ken-griffin-bet-against-gamestop-bought-a-us-constitution-are-the-miami-dolphins-next">once interested in buying the team.</a>
The Dolphins <a href="https://www.miamidolphins.com/news/miami-dolphins-announce-sale-of-limited-interest-to-ares-management">announced </a>Ares Management Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARES#NYSE">ARES</a>) is acquiring a 10% stake in the Miami Dolphins and several other assets. NBA team owners Joe Tsai and Oliver Weisberg, who own the Brooklyn Nets, will own 3% of the team going forward.
The minority investments were approved by the league on Wednesday.
The investment stake includes the Dolphins, Hard Rock Stadium, and the Formula 1 Crypto.com Miami Grand Prix, one of the annual American races of the Formula 1 motorsport league, owned by Liberty Media Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWONA#NASDAQ">FWONA</a>).
"As we continue our relentless pursuit of building a best-in-class organization, we were fortunate to attract significant interest from multiple investors, which gave us the opportunity to be highly selective in choosing partners who align with our core values and long-term vision," Dolphins team owner Stephen Ross said.
Ross said the investments will help with future growth.
"We will prioritize continued investment into the Dolphins, additional sports assets and South Florida real estate to fuel dynamic growth and innovation in the region for years to come."
Ares Management, which is a leading global alternative investment manager covering credit, real estate, private equity and infrastructure investments has $464 billion in assets under management.
The company is an investor in several professional sports teams already, including McLaren Racing, Atlético de Madrid and Inter Miami CF, <a href="https://www.benzinga.com/news/23/08/33602864/want-to-invest-in-lionel-messis-mls-success-theres-a-new-way-to-get-a-stake-in-inter-miami">the MLS team </a>that Lionel Messi plays for.
"We look forward to working with Steve to continue unlocking new and exciting opportunities ahead," Ares co-head Sports, Media &amp; Entertainment Mark Affolter and Jim Miller said.
Read Also: <a href="https://www.benzinga.com/general/sports/24/12/42354185/nfl-games-set-thanksgiving-day-records-why-this-is-good-and-bad-news-for-streaming-giant-netflix">NFL Games Set Thanksgiving Day Records: Why This Is Good And Bad News For Streaming Giant Netflix</a>
Why It's Important: Prior to this week's announcement, there have not been many ways to invest in NFL teams. The league's Green Bay Packers are the <a href="https://www.benzinga.com/news/21/11/24105229/want-to-own-a-share-of-the-green-bay-packers-buy-a-piece-of-the-team-for-300-but-dont-expect-dividen">only publicly owned team</a>, but it comes with many differences from a typical public franchise. Owners of the Packers do not collect dividends and can't sell their stake.
Along with the Dolphins news, the NFL <a href="https://www.cnbc.com/2024/12/11/nfl-philadelphia-eagles-minority-stake-sale.html?taid=6759b9820e8d6f0001ba088d&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter%7Cmain">approved </a>minority sales of the Buffalo Bills, Las Vegas Raiders and Philadelphia Eagles. None of those sales included ways for the typical investor to own a stake in the teams.
The other North American professional sports leagues <a href="https://www.benzinga.com/topic/public-sports-teams">offer ways for investors </a>to invest in teams with the likes of Madison Square Garden Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGS#NYSE">MSGS</a>), Blue Owl Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWL#NYSE">OWL</a>), Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) and Atlanta Braves Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRA#NASDAQ">BATRA</a>) owning stakes in teams.
The Dolphins were founded in 1966 and became a member of the NFL in 1970 when the AFL and NFL merged. The team was valued at $6.76 billion in the most recent <a href="https://www.sportico.com/feature/nfl-team-values-ranking-list-1234684165/">Sportico </a>valuations list, ranking seventh among NFL teams. The Dallas Cowboys ranked first at $10.32 billion.
In the 2024 season, the Dolphins hold a 6-7 record and now have a distant chance of making the NFL Playoffs with current odds of +400 from sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>). The team has odds of +25,000 to win Super Bowl LIX.
In its NFL history, the Dolphins have had two Super Bowl wins and five appearances in the championship game. While the team made back-to-back appearances in the NFL Playoffs for the 2022 and 2023 seasons, the team's last playoff win came in the 2000 season.
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Photo: April Visuals/Shutterstock.com

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Miami Dolphins, NFL Fans Can Own Part Of Team Thanks To This Public Company

Rogers Communication, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares are trading lower after the company<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> reported third-quarter results.</a>
In U.S. dollars, adjusted earnings per share of $1.04 beat the analyst consensus estimate of 98 cents.
In Canadian dollars, the earnings per share were C$1.42, up 12% year over year. Quarterly sales totaled C$5.129 billion, up 1% year over year.
Wireless service revenue grew by 2% this quarter, mainly due to an increase in mobile phone subscribers over the past year.
Cable revenue fell by 1% this quarter but showed improvement from previous quarters, impacted by competitive promotions and a drop in Home Phone and Satellite subscribers.
Media revenue rose by 11% this quarter, driven mainly by higher sports-related revenue.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41515619/delivery-giant-ups-breaks-revenue-miss-streak-after-10-quarters-stock-soars" rel="noreferrer noopener">Delivery Giant UPS Breaks Revenue-Miss Streak After 10 Quarters, Stock Soars</a>
Consolidated adjusted EBITDA increased 6% this quarter, and the adjusted EBITDA margin increased by 230 basis points due to the full realization of the synergy program associated with the Shaw Transaction and ongoing cost efficiencies.
As of September&nbsp;30, the firm had C$4.8 billion of available liquidity, consisting of C$0.8 billion in cash and equivalents and C$4 billion available under bank and other credit facilities.
The company declared a C$0.50 per share dividend on October 23.
Outlook Reiterated: Total service revenue is expected to grow by 8% to 10%, while adjusted EBITDA is projected to increase by 12% to 15%.
After the quarter ended, Rogers signed a non-binding term sheet with a prominent global financial investor for a structured equity investment of C$7 billion to finance part of its network. The completion of this agreement depends on finalizing definitive contracts and is anticipated to close in the fourth quarter.
Price Action: RCI shares are trading lower by 3.59% to $37.82 at last check Thursday.
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Media

Rogers Communications Q3 Earnings Beat Expectations Amid Ongoing Network Investment Plans

Rogers shares are trading lower after the company reported worse-than-expected Q3 sales results.

Company reaffirms 2024 outlook
<ul>
<li>Total service revenue growth of 8% to 10%; adjusted EBITDA growth of 12% to 15%; capital expenditures of $3.8 billion to $4.0 billion; and free cash flow of $2.9 billion to $3.1 billion</li>
</ul>

Rogers Communication Reaffirms 2024 Outlook: Sees Total Service Revenue Growth Of 8%-10%; Adjusted EBITDA Growth Of 12%-15%

Earnings Misses

UPDATE: Rogers Communications Q3 2024 Adj. EPS C$1.42 Beats C$1.35 Estimate, Sales C$5.129B Miss C$5.169B Estimate

Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) is preparing to release its quarterly earnings on Thursday, 2024-10-24. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Rogers Communications to report an earnings per share (EPS) of $0.98.
The announcement from Rogers Communications is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Overview of Past Earnings</h3>
Last quarter the company beat EPS by $0.01, which was followed by a 0.32% drop in the share price the next day.
Here's a look at Rogers Communications's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.84</td>
<td>0.72</td>
<td></td>
<td>0.790</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.85</td>
<td>0.73</td>
<td>0.87</td>
<td>0.947</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.0%</td>
<td>-0.0%</td>
<td>0.0%</td>
<td>-0.0%</td>
</tr>
</tbody>
</table>

<a href="https://www.benzinga.com/quote/RCI/earnings">To track all earnings releases for Rogers Communications visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse of Rogers Communications's Earnings Potential

A Major League Baseball team is up for sale and while billionaire Warren Buffett likely isn't buying the team, he could benefit thanks to a small stake<a href="https://www.benzinga.com/general/sports/23/11/35837148/warren-buffett-finds-sweet-spot-hits-home-run-with-stake-in-major-league-baseball-team"> in another team.</a>
What Happened: The sale of <a href="https://www.benzinga.com/topic/mlb">Major League Baseball </a>(MLB) teams has been rare in recent years, which means a new sale could reset the valuation metrics of teams, an item that shareholders of Atlanta Braves Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRA#NASDAQ">BATRA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRK#NASDAQ">BATRK</a>) will be watching.
The Pohlad Family, which has owned the Minnesota Twins since 1984, announced Thursday that the team is up for sale.
Carl Pohlad, who passed away in 2009, bought the Twins for $44 million in 1984, as reported by <a href="https://www.sportico.com/business/team-sales/2024/minnesota-twins-for-sale-pohlad-family-1234800592/">Sportico</a>. His children Jim, Bob and Bill inherited the team upon his death. Jim Pohlad currently serves as the team's controlling owner.
"After months of thoughtful consideration, our family reached a decision this summer to explore selling the Twins. As we enter the next phase of this process, the time is right to make this decision public," the team said.
The Twins won World Series titles in 1987 and 1991 as the Twins and the franchise previously won a title as the Washington Senators in 1924, prior to moving to Minnesota in 1961.
The team has made the MLB Playoffs in four of the past 10 years, winning only one playoff series over the same time period.
The Twins narrowly missed making the playoffs in 2024 with an 82-80 record. General Manager Thad Levine announced he was leaving after eight years with the team. Manager Rocco Baldelli is slated to return for a seventh season in 2025. One plus for the Twins is having managerial stability with only four managers over the last 38 years.
A negative for the team and a potential new owner will be trying to improve television revenue. A deal with Bally Sports North expired after the 2023 season and Diamond Sports Group paid a reduced rate to have Twins games in 2024. The league announced they will take over production and distribution of Twins games and negotiate future deals.
You may not be a billionaire like Warren Buffett, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: Ownership of baseball teams like many professional sports teams is often reserved for the wealthiest people.
Baseball has a history of corporations owning teams, a rule that it no longer allows other than the Toronto Blue Jays, owned by Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>), who are grandfathered in.
Previously, other MLB teams had corporate owners, which included:
<ul>
<li>St. Louis Cardinals: Anheuser-Busch</li>
<li>Chicago Cubs: Tribune Company</li>
<li>New York Yankees: CBS</li>
<li>Seattle Mariners: Nintendo</li>
<li>Los Angeles Angels: Disney</li>
</ul>
Private equity companies can own minority stakes in MLB teams but can't own a team outright. MLB has allowed private equity investments for years, while the NFL is just now<a href="https://www.benzinga.com/general/sports/24/08/40607642/jeff-bezos-could-have-competition-if-he-wants-the-nfls-seattle-seahawks-private-equity-investments"> coming around to the practice</a> to help improve investment opportunities for team owners.
The Twins are valued at $1.7 billion by <a href="https://www.sportico.com/feature/mlb-team-values-rankings-list-1234715821/">Sportico</a>, ranking 19th of 30 MLB teams. Here are the most recent MLB team sales:
<ul>
<li>2024: Baltimore Orioles, $1.725 billion</li>
<li>2020: New York Mets, $2.42 billion</li>
<li>2019: Kansas City Royals, $1 billion</li>
<li>2017: Miami Marlins, $1.2 billion</li>
<li>2016: Seattle Mariners, $1.4 billion</li>
<li>2012: Los Angeles Dodgers, $2.15 billion</li>
</ul>
The Washington Nationals and Los Angeles Angels hired bankers for potential sales but did not end up selling the teams.
The low number of recent sales could put the Twins in demand with sports ownership often viewed as a strong investment opportunity.
This could be great news for the Atlanta Braves, which are valued at $3.4 billion, ranking sixth by Sportico.
The Braves holding company, which is publicly traded, has a market capitalization of $2.5 billion and enterprise value of $3.1 billion. While the team already trades under the Sportico valuation, the sale of the Twins at a premium to the valuation, it could see other MLB teams rise in the rankings.
Buffett owns a small stake (233,645 shares) in the publicly traded Braves via Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) and has a love for the game of baseball. The billionaire previously owned a stake in a minor league baseball team and had interest in buying the Chicago Cubs.
BATRA Price Action: Atlanta Braves Holdings stock closed Thursday at $41.57 versus a 52-week trading range of $36.78 to $46.65. The stock is down 1.1% year-to-date in 2024.
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Photos: Shutterstock

BATRK

Warren Buffett Home Run? Billionaire's Baseball Bet Could Rise In Value With Minnesota Twins Sale

Rogers Communications confirmed today it will be the proud home&nbsp;of Warner Bros. Discovery's suite of English-language U.S. lifestyle and factual brands starting January 1, 2025. This confirms Rogers plans to bring this sought after content to Canadians and follows Bell's decision to abandon its legal efforts to block Canadians from seeing Discovery channels.

Rogers Communications Will Be The Home Of Warner Bros. Discovery's Suite Of English-Language U.S. Lifestyle And Factual Brands Starting January 1, 2025

Rogers Communications Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares are trading higher on Thursday. On Wednesday, the company disclosed an agreement to acquire Bell&#8217;s 37.5% stake in Maple Leaf Sports &amp; <a href="https://www.benzinga.com/pressreleases/24/09/g40917829/rogers-to-become-majority-owner-of-maple-leaf-sports-entertainment" target="_blank" rel="noreferrer noopener">Entertainment</a><a href="https://www.benzinga.com/pressreleases/24/09/g40917829/rogers-to-become-majority-owner-of-maple-leaf-sports-entertainment" target="_blank" rel="noreferrer noopener"> (MLSE) for $3.46 billion (Canadian $4.7 billion</a>).
Upon closure, Rogers will hold a 75% controlling interest in MLSE. Bell will retain long-term broadcast and sponsorship rights, including access to 50% of Toronto Maple Leafs and Raptors games.
This deal expands Rogers&#8217; sports portfolio, which includes ownership of the Toronto Blue Jays, Rogers Centre and Sportsnet, and partnerships with the Vancouver Canucks, Edmonton Oilers, Calgary Flames and the NHL.
With this transaction, Rogers aims to continue investing in efforts to bring championships to Canada. The transaction is pending league and regulatory approvals.
&#8220;As Canada&#8217;s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy,&#8221; said Tony Staffieri, Rogers Communications president and CEO.
In July, the company reported second-quarter revenues of $3.7 billion (C$5.093 billion), <a href="https://www.benzinga.com/news/earnings/24/07/39937266/rogers-communication-navigates-mixed-q2-subscriber-additions-clash-with-revenue-miss" target="_blank" rel="noreferrer noopener">missing the consensus of $3.76 billion</a> (<a href="https://www.benzinga.com/news/earnings/24/07/39937266/rogers-communication-navigates-mixed-q2-subscriber-additions-clash-with-revenue-miss" target="_blank" rel="noreferrer noopener">C$5.105 billion</a>).
As of June&nbsp;30, the firm had $3.17 billion (C$4.3 billion) of available liquidity, consisting of $331,980,750 (C$0.45 billion) in cash and cash equivalents and $2.8 billion (C$3.85 billion) available under bank and other credit facilities.
RCI Price Action: RCI shares are up 0.50% at $39.84 at the last check Thursday.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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