Jan 29 (Reuters) – Rogers Communications reported fourth-quarter revenue above analysts’ estimates on Thursday, led by strong growth in its media, sports and telecom business.
The company has been stepping up investment in sports properties, including its stake in Maple Leaf Sports & Entertainment, owner of the NBA’s Toronto Raptors and the NHL’s Toronto Maple Leafs.
It also owns the Toronto Blue Jays baseball team, giving it an edge for 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.
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 = 1.3549 Canadian dollars)
(Reporting by Kritika Lamba in Bengaluru; Editing by Vijay Kishore)
