Rogers

Toronto

Revenue: $2.5 billion

Loss: $277 million

Toronto-based Rogers lost C$434.3 million ($277.9 million) at year’s end, compared with net earnings the year previous of $90.4 million. A 40% jump in interest costs (to $275.4 million) and a 25% increase in depreciation and amortization (to a whopping $589.3 million) were the main culprits as increased capital expenditures upped the company’s long-term debt from $2.56 billion to $3.2 billion.

No doubt acquiring a baseball team seemed a wonderful investment for a company with a sports specialty channel — Rogers bought control of the Toronto Blue Jays in late 2000, around which time it upped its stake in specialty channel Sportsnet to 80% — but that has struck out. Rogers footed $52 million of Blue Jays operating losses in 2001 and expects to kick in $55 million more in 2002, and one Rogers exec has been quoted as saying the company does not plan to put up with this kind of performance indefinitely.

Although the company’s share price entered and exited 2001 on a similar note, $16.32 and $18.40, respectively, the company’s stock price has, in two years, lost more than 60% of its value.

More Scene

  • Ryan Murphy Pose

    Ryan Murphy on 'Showrunning as Advocacy' and the Post-Me Too 'Age of Enlightenment'

    Revenue: $2.5 billion Loss: $277 million Toronto-based Rogers lost C$434.3 million ($277.9 million) at year’s end, compared with net earnings the year previous of $90.4 million. A 40% jump in interest costs (to $275.4 million) and a 25% increase in depreciation and amortization (to a whopping $589.3 million) were the main culprits as increased capital […]

  • 'The Sinner' film premiere

    Jessica Biel Closes Her Kid-Friendly Au Fudge Restaurant

    Revenue: $2.5 billion Loss: $277 million Toronto-based Rogers lost C$434.3 million ($277.9 million) at year’s end, compared with net earnings the year previous of $90.4 million. A 40% jump in interest costs (to $275.4 million) and a 25% increase in depreciation and amortization (to a whopping $589.3 million) were the main culprits as increased capital […]

  • Comedy Converstion with L to R:

    Just for Laughs Festival Honors Tiffany Haddish, Hannah Gadsby, More

    Revenue: $2.5 billion Loss: $277 million Toronto-based Rogers lost C$434.3 million ($277.9 million) at year’s end, compared with net earnings the year previous of $90.4 million. A 40% jump in interest costs (to $275.4 million) and a 25% increase in depreciation and amortization (to a whopping $589.3 million) were the main culprits as increased capital […]

  • Paul Krassner Memoir Illustration

    Paul Krassner on Resisting With Humor

    Revenue: $2.5 billion Loss: $277 million Toronto-based Rogers lost C$434.3 million ($277.9 million) at year’s end, compared with net earnings the year previous of $90.4 million. A 40% jump in interest costs (to $275.4 million) and a 25% increase in depreciation and amortization (to a whopping $589.3 million) were the main culprits as increased capital […]

  • Just for Laughs Festival Montreal

    Just for Laughs Festival Is the Coachella of Comedy

    Revenue: $2.5 billion Loss: $277 million Toronto-based Rogers lost C$434.3 million ($277.9 million) at year’s end, compared with net earnings the year previous of $90.4 million. A 40% jump in interest costs (to $275.4 million) and a 25% increase in depreciation and amortization (to a whopping $589.3 million) were the main culprits as increased capital […]

  • National Comedy Center Set To Open

    National Comedy Center Set To Open During Lucille Ball Fest

    Revenue: $2.5 billion Loss: $277 million Toronto-based Rogers lost C$434.3 million ($277.9 million) at year’s end, compared with net earnings the year previous of $90.4 million. A 40% jump in interest costs (to $275.4 million) and a 25% increase in depreciation and amortization (to a whopping $589.3 million) were the main culprits as increased capital […]

More From Our Brands

Access exclusive content