Rogers Communications (NYSE:RCI) Azioni

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.

Reelcause Inc

RCI Hospitality Holdings, Inc. - Common Stock

RCI Hospitality Holdings Inc

Rogers Communications (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>) issued the following statement upon receiving approval from the Canadian Radio-television and Telecommunications Commission (CRTC) to acquire Bell's interest in Toronto Raptors Network Ltd (NBA TV Canada):
"We're pleased to receive all the necessary approvals to expand our ownership of MLSE. We look forward to closing this strategic deal in early July,"&nbsp;said Tony Staffieri, President and CEO, Rogers. "MLSE is one of the most prestigious sports and entertainment organizations in the world, and live sports and entertainment are core to our business strategy."
Rogers previously received approvals from the National Hockey League (NHL), National Basketball Association (NBA), Canadian Football League (CFL), Major League Soccer (MLS), and the American Hockey League (AHL) to become 75% owners of MLSE.&nbsp;Rogers also received clearance from the Competition Bureau to proceed with the acquisition.&nbsp;
In September 2024, Rogers announced a deal to acquire Bell's stake in MLSE for C$4.7 billion to become majority owner of MLSE.&nbsp;

News

TSX:RCI

Rogers Communications Secures CRTC Approval To Acquire Bell's Stake In NBA TV Canada

Hockey is the top sport in Canada, and the<a href="https://www.benzinga.com/topic/nhl" target="_blank" rel="noopener"> National Hockey League</a> reigns supreme among professional sports leagues. Seven Canadian teams compete in the league for the coveted Stanley Cup trophy.
After a 30+ year drought of no Stanley Cups, Canada is four wins away from seeing a championship return to the country.
What Happened: Canada beat the United States in the 4 Nations Face-Off challenge in February, winning the championship game, which gained increased significance with U.S. President Donald Trump calling for Canada to <a href="https://www.benzinga.com/news/global/24/12/42300450/trump-told-trudeau-canada-could-avoid-tariffs-by-becoming-51st-state-a-look-at-sectors-trade-war-could-impact">become the 51st state.</a>
After Canada's win, then-Canadian Prime Minister Justin Trudeau poked fun at Trump.
"You can't take our country – and you can't take our game," Trudeau <a href="https://www.nytimes.com/2025/02/21/world/canada/trudeau-trump-hockey-canada-us-feud.html">tweeted</a>.
While Trudeau may have been correct about the international tournament, he wasn't entirely truthful about Canada's "game."
Hockey may be the most loved sport in Canada, but the last time a team from the country won the Stanley Cup was in 1993, when the Montreal Canadiens won the championship.
In last year's NHL Playoffs, around 75% of the current NHL players were not born the last time a Canadian team won a Stanley Cup, according to&nbsp;<a href="https://www.espn.com/nhl/insider/story/_/id/39815401/canada-stanley-cup-playoffs-drought-end-vancouver-edmonton-winnipeg-toronto" target="_blank" rel="noreferrer noopener">ESPN</a>. About 3% of NHL players today were five years old or older and likely able to remember a Canadian team winning the cup.
Since the Canadiens won the Stanley Cup in 1993, there have been 15 U.S teams to win the championship.
History shows that Canadian teams still rank among the all-time best in NHL and Stanley Cup history. The Canadiens rank first with 23 Stanley Cup wins. Ranking second is also a Canadian team, with the Maple Leafs winning 13 Stanley Cups. The Edmonton Oilers rank sixth all-time with five Stanley Cup wins.
Canada had five of their seven NHL teams make the 2024-2025 NHL Playoffs, and one remains with a chance to end the drought.
Read Also: <a href="https://www.benzinga.com/general/education/25/04/45072237/5-things-you-might-not-know-about-canadian-prime-minister-mark-carney-from-playing-college-hockey-to-bitcoin">5 Things You Might Not Know About Canadian Prime Minister Mark Carney: From Playing College Hockey To Bitcoin</a>
2025 Stanley Cup Matchup: For the second straight season, the Oilers and Florida Panthers meet in the Stanley Cup Finals. Last season saw the Panthers win their first championship in franchise history beating the Oilers in seven games of the best-of-seven series.
NHL history has witnessed several back-to-back Stanley Cup final matchups, and in many cases, the team that lost the first year ends up winning a championship the following season in the rematch.
The best-of-seven series kicks off Wednesday, June 4, with television coverage of the entire series belonging to Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>). Games all start at 8 p.m. ET and will be available to watch on TNT, truTV and to stream on Max.
Here is the schedule:
<ul class="wp-block-list">
<li>Wednesday, June 4 in Edmonton</li>
<li>Friday, June 6 in Edmonton</li>
<li>Monday, June 9 in Florida</li>
<li>Thursday, June 12 in Florida</li>
<li>Saturday, June 14 in Edmonton (if necessary)</li>
<li>Tuesday, June 17 in Florida (if necessary)</li>
<li>Friday, June 20 in Edmonton (if necessary)</li>
</ul>
Television viewership for Warner Bros. Discovery's coverage of the games has <a href="https://awfulannouncing.com/nhl/stanley-cup-playoffs-sharp-us-ratings-decline-through-conference-finals.html">averaged </a>947,000 through the conference finals, down 20% year-over-year. NHL Playoffs coverage by Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) unit ESPN has averaged 966,000 viewers, down 31% year-over-year.
Having many Canadian teams in the playoffs may be hurting U.S. viewership, but it could also benefit Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>), which has rights in Canada. NHL Playoffs viewership is averaging 1.97 million viewers in Canada, up 21% year over year.
Stanley Cup Betting Odds: The betting markets favor the Oilers in the series slightly with sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) listing odds at -120 for the Oilers and +100 for the Panthers.
On the prediction market, <a href="https://kalshi.com/markets/kxnhl/stanley-cup" target="_blank" rel="noopener">Kalshi, </a>the odds are 55% for the Oilers and 45% for the Panthers.
<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXNHL-25?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;ids=KXNHL-25-EDM&#038;ids=KXNHL-25-FLA&#038;ids=KXNHL-25-NYI" width="488px" height="196px" style="border:0"></iframe>
Users can bet on individual games and the series&#8217; exact results. Kalshi users predict the series will go six or seven games, with Edmonton winning 4-2 and Florida winning 4-3 ranking second at 20% and Edmonton winning 4-3 the top pick at 21% of wagers.
On prediction market <a href="https://polymarket.com/event/stanley-cup-winner?tid=1749071639278">Polymarket</a>, the Oilers are listed as the favorite at 53% with the Panthers given odds of 48% to win the Stanley Cup.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/04/44633812/trump-tariffs-could-hurt-national-hockey-league-commissioner-has-concerns-hopes-things-can-get-back-to-a-normal-reality">Trump&#8217;s Tariff Push Raises NHL Concerns: League Hopes For Return To &#8216;Normal Reality&#8217;</a></li>
</ul>
Photo: Keith J Finks / Shutterstock.com

Sports Betting

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DKNG

Canada's 32-Year Stanley Cup Drought Could End In 2025: Oilers Vs. Panthers, Odds, Schedule, How To Watch

Rogers Communications (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>) today announced it has received all league approvals to buy out Bell's 37.5% stake in Maple Leaf Sports &amp; Entertainment (MLSE).&nbsp; &nbsp;&nbsp; "We're pleased to have league approvals to expand our ownership of MLSE, one of the most prestigious sports and entertainment organizations in the world," said Tony Staffieri, President and CEO, Rogers. "As Canada's leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy."&nbsp;
Rogers has received approvals from the National Hockey League (NHL), National Basketball Association (NBA), Canadian Football League (CFL), Major League Soccer (MLS), and the American Hockey League (AHL) to become 75% owners of MLSE.&nbsp; &nbsp;&nbsp; The deal is subject to approval from the CRTC to acquire an additional indirect interest in Toronto Raptors Network Ltd (NBA TV Canada), representing a very small portion of the transaction. Rogers has previously received clearance from the Competition Bureau to proceed with the acquisition.&nbsp;
In September 2024, Rogers announced a deal to acquire Bell's stake in MLSE for C$4.7 billion to become majority owner of MLSE.&nbsp;

Rogers Communications Announces It Has Received All League Approvals To Buy Out Bell's 37.5% Stake In Maple Leaf Sports & Entertainment For C$4.7 Billion

Rogers Communication, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares are trading relatively flat on Wednesday after the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44945219/rogers-communications-reports-first-quarter-2025-results" rel="noreferrer noopener">company reported first-quarter results</a>.
In U.S. dollars, the company reported first-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 first quarter adjusted earnings per share of C$0.99.
Also Read:<a target="_blank" href="https://www.benzinga.com/25/04/44948499/boeing-stock-jumps-after-q1-2025-results-production-expansion-plans-for-737-and-787" rel="noreferrer noopener"> Boeing Clocks 18% Q1 Topline Growth, Plans Production Expansion For 737 And 787</a>
Total revenue and total service revenue each increased by 2% this quarter, driven by service revenue growth in our Wireless and Media businesses.
Wireless service revenue increased by 2% this quarter, primarily as a result of continued growth in our subscriber base.
Wireless equipment revenue decreased by 3%, primarily as a result of lower device sales to new and existing subscribers.
Cable revenue decreased by 1% this quarter as a result of continued competitive promotional activity and declines in our Home Phone, Video, and Satellite subscriber bases.
Media revenue increased by 24% this quarter, primarily as a result of higher sports-related revenue
&#8220;In the first quarter, we delivered positive revenue and adjusted EBITDA growth while growing mobile phone and Internet net additions against the backdrop of a slowing economy,&#8221; said Tony Staffieri, President and CEO.
Consolidated adjusted EBITDA increased 2% this quarter, and adjusted EBITDA margin increased by 10 basis points, primarily as a result of ongoing productivity and cost efficiencies.
Rogers Communications has reiterated its full-year 2025 service revenue growth guidance, projecting an increase of between 0% and 3%.
Price Action: RCI shares are trading higher by 0.75% to $25.60 at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44954642/bessent-calls-for-imf-world-bank-reset-as-us-targets-chinas-unsustainable-economic-model" target="_blank" rel="noreferrer noopener">Bessent Blasts China&#8217;s Economic Model, Calls For Global Reset, IMF Refocus</a></li>
</ul>
Image: Shutterstock

Earnings

Equities

Guidance

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Movers

General

Rogers Communications Q1 Earnings Beat Expectations, Reiterates Outlook

Reiterates 2025 outlook for total service revenue and adjusted EBITDA growth and capital expenditures and free cash flow ranges
 &nbsp;

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

Earnings Misses

Rogers Communications Q1 Adj. EPS $0.69 Misses $1.01 Estimate, Sales $3.47B Miss $4.98B Estimate

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Earnings Scheduled For April 23, 2025

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Shares of companies within the broader communication services sector are trading lower as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

These past three months were not what U.S. <a href="https://www.benzinga.com/topic/mergers-and-acquisitions">dealmakers wanted or expected</a>.
As of April 3, transaction tracker Dealogic showed zero percent growth in U.S.-based M&amp;A volume compared to last year&#8217;s first quarter.
Elsewhere? Volume is spiking triple digits.
<ul>
<li>The Middle East and Africa combined are seeing 123% growth in M&amp;A.</li>
<li>Japan: 105%</li>
<li>Asia: 103%</li>
</ul>
Deal volume is also up in Canada, Europe and Australia. Only in Latin America is it in the red, with <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/03/44342234/deal-dispatch-trump-ma-boom-is-a-bust-purple-mattress-considers-sale-celtics-auction-heats-up">barely a peep</a> coming from the U.S.
For those keeping track of who correctly predicted this downtrend, don&#8217;t look to Bank of America. After Election Day, the firm&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">analysts boldly predicted</a> that the then-incoming Trump administration would remove Federal Trade Commission chair Lina Khan and, presto, the antitrust roadblocks for M&amp;A activity would be removed.
Those analysts were wrong. Just 10 days after Trump&#8217;s inauguration, the U.S. Department of Justice <a href="https://www.benzinga.com/news/legal/25/01/43353124/hewlett-packard-enterprise-shares-fall-as-us-department-of-justice-sues-to-block-juniper-acquisition">sued to block</a> Hewlett Packard Enterprise&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) $14 billion deal to acquire networking gear maker Juniper Networks. In March, Surmodics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) <a href="https://julian-34159.medium.com/m-a-malaise-whats-behind-the-2025-deal-slowdown-8471a15b914c">saw its stock price fall</a> after the FTC challenged a proposed acquisition by private equity firm GTCR LLC.
Those BofA analysts also forgot that the previous Trump administration was not particularly lenient regarding consolidation. AT&amp;T and Time Warner; Sinclair and Tribune Media; Broadcom and Qualcomm; DraftKings and FanDuel — <a href="https://www.benzinga.com/news/asset-sales/25/03/44202239/deal-dispatch-tiktok-walgreens-raizen">all blocked</a>.
On the shiny side, gold-related M&amp;A deals have increased, but transaction sizes are much smaller, Benzinga&#8217;s Stjepan Kalinic <a href="https://www.benzinga.com/news/legal/25/03/44490949/gold-ma-deals-are-accelerating-but-average-deals-are-smaller-research-shows">wrote this week</a>.
See Also: <a href="https://www.benzinga.com/government/regulations/25/04/44648681/powell-cites-tariff-driven-inflation-risks-shrugs-off-trumps-call-for-perfect-time-to-cut-rates">Trump Urges Immediate Rate Cuts, Powell Says It&#8217;s &#8216;Too Soon&#8217; As Tariffs Will Likely Drive Inflation</a>
<h2 class="wp-block-heading">New On The Block</h2>
<ul>
<li>I Squared Capital is considering selling its European trailer-leasing business, TIP Group, which could be valued at over €3 billion ($3.2 billion). The Miami-based firm is consulting advisers but has not yet launched a formal sale process, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-04-02/i-squared-said-to-weigh-3-billion-sale-of-trailer-leasing-firm?srnd=phx-deals&amp;sref=TBDibEcD">reports</a>. Based in Amsterdam, TIP Group may attract interest from infrastructure funds and industry peers. I Squared acquired the company in 2018 from HNA Group and has since expanded it through acquisitions, including Trailer Wizards in Canada and Eurotrail UK Ltd. The company was rebranded as TIP Group in 2022.</li>
</ul>
<ul>
<li>Bowmark Capital is working with Arma Partners on a potential sale of workforce management software firm Totalmobile, which could be valued at over £500 million ($649 million). A formal sale process may start later this year, according <a href="https://www.bloomberg.com/news/articles/2025-04-02/pe-firm-bowmark-said-to-weigh-500-million-sale-of-totalmobile?sref=TBDibEcD">to</a> Bloomberg. Totalmobile, which provides field service management software, could attract interest from private equity firms and industry players. Bowmark acquired the company in 2020, and deliberations on the sale are still in the early stages.</li>
</ul>
<h2 class="wp-block-heading">Updates From The Block</h2>
<ul>
<li>Final bids for Eni SpA&#8216;s 15% stake in Plenitude, a renewables company, are expected in the coming weeks. Apollo Global Management, Ares Management and Stonepeak are among the interested parties, according to Bloomberg—initial interest values Plenitude between €12 billion and €13 billion ($14 billion).</li>
</ul>
<ul>
<li>Ayrmid Ltd. <a href="https://www.benzinga.com/25/03/44564776?57575">offered to acquire</a> Bluebird Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) for an upfront cash payment of $4.50 per share. The company topped a $3.00 per share bid from private equity firms <a href="https://www.benzinga.com/25/02/43880289/bluebird-bio-to-be-acquired-by-carlyle-group-sk-capital-former-mirati-therapeutics-ceo-set-to-lead-post-deal">Carlyle and SK Capital Partners</a>.</li>
</ul>
<ul>
<li>Rocket Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>) <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44565671/rocket-acquires-mr-cooper-just-weeks-after-buying-redfin-brings-together-the-homeownership-experience-at-scale">announced it will acquire</a> Mr. Cooper Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NASDAQ">COOP</a>) in an all-stock transaction for $9.4 billion in equity value. The move comes just after Rocket's $1.75 billion acquisition of <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44237879/rocket-redfin-deal-aims-to-create-end-to-end-real-estate-solution-where-does-that-leave-zillow">online real estate broker Redfin Corp. </a>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>).&nbsp;</li>
</ul>
<ul>
<li>The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) <a href="https://www.benzinga.com/25/04/44643347/hershey-expands-snack-empire-with-acquisition-of-lesserevil-for-750m">agreed to acquire</a> snack brand LesserEvil. This move reflects the confectionery giant&#8217;s ongoing effort to expand from sweets such as Reese&#8217;s and Jolly Ranchers into the better-for-you snack sector. The acquisition is <a href="https://www.wsj.com/business/deals/hershey-nears-750-million-deal-for-lesserevil-popcorn-brand-4ca3d468?mod=lead_feature_below_a_pos1" target="_blank" rel="noreferrer noopener">reportedly</a> valued at around $750 million.</li>
</ul>
<ul>
<li>Rogers Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) said on Friday it agreed to receive a 7 billion Canadian dollar (~$5 billion) equity investment from funds managed by Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), supported by <a href="https://www.benzinga.com/news/asset-sales/25/04/44646240/rogers-scores-5-billion-blackstone-deal-to-cut-debt-unlock-wireless-infrastructure-value">several Canadian institutional investors</a>.</li>
</ul>
<ul>
<li>President Trump confirmed that the U.S. is <a href="https://in.benzinga.com/general/social-media/25/02/43511395/trump-pushes-for-tiktok-deal-china-could-oblige-if-it-werent-for-those-tariffs-heres-what-we-know" target="_blank" rel="noreferrer noopener">nearing a deal</a> to spare TikTok from a potential ban, with ongoing discussions involving multiple investors and a possible tariff agreement with China. During <a href="https://www.benzinga.com/25/04/44641024/trump-says-us-close-to-tiktok-deal-reiterates-his-offer-of-tariff-relief-to-secure-chinas-consent-the-tariffs-give-us-great-power-to-negotiate">remarks aboard</a> Air Force One, Trump didn&#8217;t specify whether the &#8220;very good group of people&#8221; interested in TikTok includes OnlyFans founder Tim Stokely. AppLovin and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) are <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44645102/applovin-wants-tiktok-but-can-it-beat-amazon-and-onlyfans-to-the-punch">also reportedly interested</a>.</li>
</ul>
<h2 class="wp-block-heading">Bankruptcy Block</h2>
<ul>
<li>Hooters, the restaurant chain known for its all-female waitstaff and neon orange branding, <a href="https://www.benzinga.com/personal-finance/25/04/44647084/hooters-files-for-bankruptcy-says-brand-isnt-going-anywhere">officially filed for bankruptcy protection</a>. The Chapter 11 filing allows the chain to continue normal operations during the proceeding. Hooters said that all of its 100 restaurants will be sold to two existing franchisees, which own and operate more than 30% of Hooters&#8217; locations in the U.S.</li>
</ul>
For the previous edition of <a href="https://www.benzinga.com/news/25/03/44546940/deal-dispatch-bezos-backed-crop-company-wilts-tech-startup-nabs-napster-for-207-million">Deal Dispatch, click here</a>.

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Deal Dispatch: US M&A Is Quiet, But Abroad? Volume Is Spiking

Rogers Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) said on Friday it has <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44643877/rogers-concludes-definitive-agreement-for-cdn-7-billion-equity-investment" rel="noreferrer noopener">entered into an agreement to receive a 7 billion</a> Canadian dollars (~$5 billion) equity investment from funds managed by Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), supported by several Canadian institutional investors.
The deal gives Blackstone a minority stake in a newly formed Rogers subsidiary tied to a portion of its wireless infrastructure.
Blackstone is&nbsp;backed by Canadian institutional investors, including CPP Investments, Caisse de dépôt et placement du Québec, PSP Investments, and British Columbia Investment Management Corporation.
Blackstone will hold a 49.9% equity&nbsp;interest in the new entity, while Rogers retains 50.1% and full operational control.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44645277/why-is-ev-maker-mullen-automotive-stock-skyrocketing-today" rel="noreferrer noopener">Why Is EV Maker Mullen Automotive Stock Surging Today?</a>
&#8220;This transaction will strengthen the company&#8217;s investment grade balance sheet by reducing our borrowings and unlocking the unrecognized value of critical assets,&#8221; said Rogers CEO Glenn Brandt.
&#8220;With this transaction, Rogers will have issued an aggregate $9 billion of equity-valued capital since year-end, which is expected to reduce leverage by almost 1 turn.&#8221;
The newly formed entity will hold a partial interest in Rogers&#8217; wireless backhaul transport infrastructure, with a structure allowing Rogers to buy back Blackstone&#8217;s stake between the eighth and twelfth years following the deal&#8217;s closure. Blackstone will maintain a 20% voting right in the subsidiary.
The investment is expected to yield annual distributions of up to C$400 million to Blackstone during the first five years. Rogers&#8217; average capital cost for the deal through the repurchase period is projected to be approximately 7% annually.
The investment will be recorded as equity in Rogers&#8217; financial statements and is likely to be classified similarly by major credit rating agencies, including Moody&#8217;s, S&amp;P Global Ratings, and DBRS Limited.
Rogers intends to use the transaction net proceeds to repay debt. The deal&#8217;s completion is targeted for the second quarter of 2025, pending regulatory approvals and closing conditions.
Price Action: RCI shares traded higher by 1.65% at $26.50 in premarket at last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44643347/hershey-expands-snack-empire-with-acquisition-of-lesserevil-for-750m" target="_blank" rel="noreferrer noopener">Hershey Bites Into Better-For-You Snacking With LesserEvil Deal: Details</a></li>
</ul>
Photo via Shutterstock.

Asset Sales

Rogers Scores $5 Billion Blackstone Deal To Cut Debt, Unlock Wireless Infrastructure Value

"This transaction will strengthen the company's investment grade balance sheet by reducing our borrowings and unlocking the unrecognized value of critical assets," said Glenn Brandt, Chief Financial Officer. "With this transaction, Rogers will have issued an aggregate $9 billion of equity-valued capital since year-end, which is expected to reduce leverage by almost 1 turn."

Rogers to Use C$7B Investment From Blackstone-Led Group To Repay Debt And Boost Balance Sheet

Under the terms of the transaction, Blackstone will acquire a non-controlling interest in a new Canadian subsidiary of Rogers that will own a minor part of Rogers wireless network.&nbsp;Rogers will maintain full operational control of its network and will include the financial results of the subsidiary in its consolidated financial statements.
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Rogers Communications Inks C$7B Deal With Blackstone, CPP And Others for 49.9% Stake In New Wireless Subsidiary

President Donald Trump's plan to <a href="https://www.benzinga.com/25/04/44616760/donald-trump-sets-reciprocal-tariffs-on-key-trade-partners-in-historic-policy-shock">impose reciprocal tariffs</a> on foreign imports sent markets lower on Thursday.
Canada was spared from additional tariffs during Wednesday's announcement, but has been a favorite Trump target. Canada's economy could be hurt by tariffs, which could be a problem for American sports leagues, specifically the National Hockey League.
What Happened: A Canadian NHL team has not won the <a href="https://www.benzinga.com/general/sports-betting/24/04/38356595/canadas-30-year-stanley-cup-drought-can-streak-end-in-2024-betting-odds-and-the-public-us-">Stanley Cup since 1993</a>. While that drought continues to be a key fact on the minds of the seven Canadian NHL teams, they may have bigger problems at hand.
NHL Commissioner Gary Bettman was <a href="https://globalnews.ca/video/11112948/nhl-has-concerns-over-trumps-tariffs-hopes-canada-us-tensions-just-a-moment-in-time/">asked </a>about Trump's latest tariffs and the potential impact on the NHL this week when highlighting a new Canadian media rights deal with Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>).
Bettman said he doesn't want to weigh in on politics and hopes that people use sports as an escape from negative headlines. Although, he acknowledged that the situation could still have meaningful implications.
"I hope what we're seeing is a moment in time and things can get back to a normal reality," Bettman said. "I have concerns from a business standpoint for the league that if the Canadian economy suffers by what's going on that will impact the way we do business."
Bettman&#8217;s latest comments follow a <a href="https://www.cnbc.com/2025/03/05/nhl-commissioner-gary-bettman-us-canada-tariffs.html" target="_blank" rel="noopener">CNBC </a>interview last week in which he said 25% of the NHL's league revenue comes from the seven Canadian teams. He also mentioned that the salaries are paid in US dollars.
"So if the impact of the tariffs is to see the Canadian dollar drop relative to the U.S. dollar, it will make it more difficult and more painful."
At the time, Bettman said Canadians and Americans were likely getting "caught in the middle" of a policy issue.
Read Also: <a href="https://www.benzinga.com/markets/25/04/44621408/market-access-has-a-price-trump-unveils-list-of-tariffs-countries-targeted">Trump Unveils Massive Tariff Plan to Slash $1.2 Trillion Trade Deficit: &#8216;Access To The American Market Is A Privilege&#8217;</a>
Why It's Important: The NHL's seven Canadian teams are the Calgary Flames, Ottawa Senators, Montreal Canadiens, Toronto Maple Leafs, Edmonton Oilers and Winnipeg Jets.
The Maple Leafs are partially owned by two public telecommunications companies. Rogers owns 37.5% of the team, and Bell Canada (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) also owns 37.5% of the team. The ownership comes via the Maple Leaf Sports &amp; Entertainment parent company. MLSE also owns the National Basketball Association team, the Toronto Raptors, and other sports assets. Rogers owns the Major League Baseball team, the Toronto Blue Jays.
Hockey equipment and jerseys are also made in Canada and could be subject to tariffs, increasing costs for the league as it nears the end of its regular season.
In other American sports leagues, Canada is less involved. In the NBA it's one Canadian team (Raptors) and the same for MLB (Blue Jays). The NHL will be much more impacted by tariffs on Canada and the country's economy going forward.
As a trade war potentially escalates, fans can also get more partial against certain teams, as was evidenced with booing of national anthems when Canada and the United States played each other in the Four Nations Tournament earlier this year.
Price Action: Rogers Communications stock hit a new 52-week low of $24.76 earlier this week. The stock has traded between $24.76 and $41.84 over the last year, with shares down 15.2% year-to-date in 2025 and down 34.9% over the last year.
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Photo: Debby Wong/Shutterstock

Global

Trump's Tariff Push Raises NHL Concerns: League Hopes For Return To 'Normal Reality'

Renews highly coveted and valuable hockey rights long term Will deliver more national games and fewer blackouts to hockey fans Rogers is proud to remain the home of NHL&nbsp;hockey

NHL And Rogers Extend National Media Rights Partnership With 12-Year, $11B Agreement

AAPL

ACHC

CBRE

TSLA

WDAY

Viking Global Investors' Latest 13F Filing Reveals Dissolved Stakes In Apple By 4.86M Shares, Workday By 3.27M Shares, Las Vegas Sands By 8.67M Shares, McDonald's By 1.12M Shares, Vertiv Holdings By 2.81M Shares, Acadia Healthcare By 3.70M Shares, CBRE Group By 1.57M Shares, Carnival By 9.56M Shares, Freeport-McMoRan By 3.14M Shares, Eli Lilly By 152K Shares, 3M By 840.75K Shares, Ameriprise Financial By 243.06K Shares, Tesla By 436.27K Shares, Rogers Communications By 2.70M Shares

<ul>
<li>a U.S. public offering of two series of US dollar denominated fixed-to-fixed rate subordinated notes with an aggregate principal amount of US$2.1 billion, consisting of US$1.1 billion of 7.0% fixed-to-fixed rate subordinated notes due 2055 and US$1.0 billion of 7.125% fixed-to-fixed rate subordinated notes due 2055 (collectively the "US Notes"), and</li>
<li>a Canadian private placement of $1.0 billion of 5.625% fixed-to-fixed rate subordinated notes due 2055 (the "Cdn Notes" and, together with the US Notes, the "Notes").</li>
</ul>

Reported Earlier, Rogers Communications Prices US$2.1B Public Offering And C$1B Private Placement Of Fixed-To-Fixed Rate Subordinated Notes

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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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%

Press Releases

Gabelli Funds to Host 17th Annual Media & Entertainment Symposium Thursday, June 5, 2025

Rogers Receives League Approvals on MLSE Acquisition

Rogers Donates $1 Million to 2025 Rogers Charity Classic

Sixty-three New 5G Cell Towers are Now Operational Across Eastern Ontario

Rogers comments on CRTC's NBA TV Canada approval

Financing

Rogers closes CDN$7 billion equity investment transaction

Blackstone Completes CDN$7 Billion Equity Investment in Rogers in Partnership with Leading Canadian Institutional Investors

Rogers Communications 2Q25 Investment Community Teleconference July 23, 2025 at 8:00 a.m. ET

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