Rogers spent $150M on customer credits in third quarter due to July outage
Story continues below advertisement
Roger’s media business too is showing signs of recovery from pandemic blues as the Toronto Blue Jays owner posted a 12 per cent rise in revenue, thanks to higher ad sales on its networks and full audiences at the Rogers Centre stadium.The company incurred a $150 million charge in customer credits due to a massive outage in July that saw some of its customers switch to competitors.
It posted an adjusted profit of 84 Canadian cents per share, narrowly missing expectations of 86 Canadian cents. Revenue of $3.74 billion, however, beat Refinitiv estimates of $3.73 billion.Rogers extends deadline to finalize Shaw takeover, expects spending of $150M on customer credits Rogers did not give any fresh update on its deal for smaller rival Shaw Communications Inc, which has been currently blocked by Canada’s antitrust bureau.
After a series of failed settlement talks, the battle between Rogers-Shaw and the antitrust agency kicked off in Canada’s Competition Tribunal on Monday and is expected to last at least four weeks.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why the Competition Bureau is taking the Rogers-Shaw merger to courtA year and a half in the making, here’s how the Rogers-Shaw merger has evolved, the controversies around it, and how it became the biggest case ever heard by the Competition Tribunal
Read more »
Rogers pushes back against competition watchdog in first day of hearing on Shaw dealRogers is pushing back against the competition watchdog, arguing that its proposed takeover of Shaw is “pro\u002Dcompetitive.”
Read more »
Concert Review: 5 things to know about Lizzo at Rogers ArenaBreakout R\u0026amp\u003BB star Lizzo debuted in town with a live show
Read more »
Competition watchdog holds firm on blocking Rogers-Shaw deal in first day of hearing - BNN BloombergCanada's competition watchdog says it still intends to block Rogers Communications Inc.'s $26-billion proposed takeover of Shaw Communications Inc. in the first day of a weeks-long hearing before the Competition Tribunal.
Read more »
Competition watchdog holds firm on blocking Rogers-Shaw deal in first day of hearingCanada\u0027s competition watchdog says it still intends to block Rogers\u0027 proposed takeover of Shaw in Day 1 of a weeks\u002Dlong hearing.
Read more »
Rogers-Shaw merger would take out a ‘disruptive, competitive player,’ Competition Bureau lawyer tells tribunalShaw lawyer argues there is almost no overlap between Rogers and Shaw’s businesses and consumers will lose if deal is blocked.
Read more »