Rogers Communications is considering selling assets such as baseball’s Toronto Blue Jays and a stake in media company Cogeco Inc. to free up capital for other investments, chief financial officer Tony Staffieri said. Rogers shares have soared 26 per cent this year, outpacing rivals Telus and BCE (Bell) by more than double, as wireless revenue soared and customer retention improved. The company has said before that it’s exploring ways to get more value from its portfolio of assets, including the Jays, but Staffieri’s comments Tuesday were more specific. Rogers still wants rights to sports programming but doesn’t have to own a team to have that, he said, pointing to the company’s 12-year deal with the National Hockey League. Rogers’ media business made up about 15 per cent of sales last year but only about 3 per cent of operating profit, according to data compiled by Bloomberg.

Source: thestar December 06, 2017 04:18 UTC