Rogers Comm Stock Price, News & Analysis

Rogers Communications and Shaw Communications have stated their commitment to the proposed merger amidst an appeal by the Commissioner of Competition against the Competition Tribunal's approval. The Tribunal determined that the merger is unlikely to substantially lessen competition in Alberta and British Columbia, asserting that it can enhance competition instead. Shareholder approval has been secured, and key regulatory bodies have already approved necessary licenses. However, uncertainty remains regarding the appeal outcome and further regulatory approvals.

Rogers Communications and Shaw Communications received a favorable decision from the Competition Tribunal regarding the acquisition of Freedom Mobile by Videotron, paving the way for the Rogers-Shaw Transaction. The only pending approval is from the Minister of Innovation, Science and Industry for the transfer of wireless spectrum licenses to Videotron. The deadline for the transaction has been extended to January 31, 2023. Previously, approvals were secured from Shaw shareholders and the Court of King’s Bench of Alberta, with additional approvals expected for the merger to complete successfully.

Rogers Communications plans to release its fourth quarter and full year 2022 financial results on February 2, 2023, before North American markets open. The results will be distributed via newswire and available on investors.rogers.com. Management will hold a teleconference at 8:00 a.m. ET to discuss results and outlook.

Rogers Communications has declared a quarterly dividend of 50 cents per share on its Class B Non-Voting and Class A Voting shares. This dividend will be paid on January 3, 2023, to shareholders recorded on December 9, 2022. The payment of future dividends remains at the discretion of Rogers' Board of Directors, meaning there’s no automatic entitlement to dividends outside of declared payments.

Rogers is a prominent Canadian technology and media company, publicly traded on the TSX and NYSE under the ticker RCI.

Rogers Communications reported strong Q3 results, with mobile net additions of 221,000, marking a 30,000 increase from last year. Adjusted EBITDA declined 1% to $1.583 billion, impacted by $150 million in customer credits from a network outage. Total service revenue grew 3%, while wireless service revenue increased 9%. Media revenue surged 12% driven by higher attendance at sporting events. The company plans to invest $20 billion in network improvements over five years, and reaffirmed its full-year guidance for 2022.

MONTREAL and TORONTO and CALGARY, Alberta, Oct. 27, 2022 - Quebecor, Rogers Communications, and Shaw Communications participated in a mediation session, which did not result in a settlement. The companies expressed disappointment and criticized the Bureau's engagement, claiming it hinders lower wireless prices in Canada. They remain committed to transactions expected to transform the Canadian telecommunications landscape, allowing Videotron to emerge as a robust competitor and enhancing Shaw-Rogers' wireline business. Both transactions are seen as pathways to affordable telecommunications for Canadians.

Rogers Communications Inc. is set to release its third quarter 2022 financial results on November 9, 2022, prior to market opening. The results will be disseminated via newswire and will be available on their investor relations website. Management will hold a teleconference at 8:00 a.m. ET to discuss the financial outcomes and future outlook. Interested parties can access the live webcast through the company's website or dial in via a provided toll-free number. A recording of the presentation will also be accessible post-conference.

Rogers Communications Inc. (RCI) has announced an extension of the Special Mandatory Redemption Date for its various Senior Notes to December 31, 2023. This extension allows RCI to maintain bond financing during the anticipated closing of the Shaw Communications acquisition. The consent solicitations for the Notes concluded on August 31, 2022, with RCI committing to pay approximately Cdn$520 million in Initial Consent Fees to consenting holders by September 9, 2022. The extension ensures proceeds from the Notes remain available for an additional year.

Rogers Communications Inc. (RCI) announced on August 22, 2022, its intention to amend the indentures governing eight series of its senior notes. This move aims to extend the Special Mandatory Redemption date from December 31, 2022, to December 31, 2023, in connection with its proposed acquisition of Shaw Communications. The consent solicitations for the amendments will expire on August 31, 2022. If the acquisition isn't completed by the new date, Rogers is obligated to redeem the notes at 101% of their principal value, plus accrued interest.