Wireless content help broadcaster climb
Canuck cabler and broadcaster Rogers Communications reported revenue up 13% to C$2.6 billion ($2.8 billion) for the third quarter on net earnings up a stellar 75% to $287 million, thanks to rising revenue from mobile phone and other wireless devices.
For the nine-month period, revenue was up 15% to $7.9 billion on net earnings down 14% to $409 million.
Toronto-based Rogers, Canada’s largest cable operator, reported that cable subscribers increased by 63,900 in the quarter to reach 3.6 million.
After the quarter ended, Canadian broadcast regulator the Canadian Radio-Television and Telecommunications Commission approved Rogers’ acquisition of the five City-tv stations from Bellglobemedia.
This deal turns Rogers, previously a marginal broadcast player, into one of the country’s leading broadcasters.