Overview
- Rogers recorded a second-quarter net loss driven by a roughly $1.03-billion non‑cash charge that reflects revaluing the remaining 25% of Maple Leaf Sports and Entertainment after agreeing to buy it for $4.35 billion.
- Operationally the quarter was strong with service revenue near $5.6 billion, up about 8% year‑over‑year and beating expectations while adjusted net income held roughly steady at about $633 million.
- Media revenue rose sharply to roughly $1.5 billion, a 53% increase tied to the MLSE consolidation and higher Toronto Blue Jays revenue while media operating costs climbed about 45% and stadium capital spending rose.
- Subscriber trends were softer than hoped, with 40,000 net wireless additions, 17,000 retail internet additions and losses in video and home phone customers, reflecting pressure on pricing and market growth in Canada.
- Rogers says it will fund the purchase with a mix of existing and new credit facilities, reports $6.1 billion in available liquidity, and expects the deal to close by the end of 2026, leaving leverage and cost trends to shape investor and customer impacts next year.