Jan 29 (Reuters) - Rogers Communications reported fourth-quarter revenue above analysts' estimates on Thursday, led by strong growth in its media and sports business.
The company also reiterated its plans to acquire the remaining 25% minority interest in Maple Leaf Sports & Entertainment, owner of the NBA's Toronto Raptors and the NHL's Toronto Maple Leafs, by 2026.
It also owns the Toronto Blue Jays baseball team, giving it an edge in sports portfolios among Canadian broadcasters.
The push deeper into
sports comes as media companies compete aggressively for broadcast and streaming rights — one of the few forms of live entertainment that continues to draw large, real‑time audiences and attract premium advertising dollars.
Its media revenue grew 126% to C$1.2 billion ($886.07 million) in the quarter, helped by postseason success of the Toronto Blue Jays, and higher advertising and subscriber revenue related to the launch of the Warner Bros. Discovery suite of channels.
Canadian telecom firms are increasingly using value‑added services such as bundling streaming, live sports and exclusive content to retain customers, justify higher subscription prices and stand out in the competitive wireless and broadband market.
The wireless service provider reported fourth-quarter revenue of C$6.17 billion ($4.55 billion), compared to estimates of C$5.98 billion, according to data compiled by LSEG.
($1 = 1.3543 Canadian dollars)
(Reporting by Kritika Lamba in Bengaluru; Editing by Vijay Kishore)
