Rogers Communications (NYSE:RCI) Stock, Quote.Headers.trade-ideas

Rogers Communications

Rogers Communications is the largest wireless service provider in Canada, with its more than 11 million subscribers equating to one third of the total Canadian market. Its wireless business accounted for more than half of total revenue and has increasingly been providing a bigger portion of total company sales over the last several years. Rogers' cable segment, which provides about 35% of total revenue after acquiring Shaw, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays. Rogers' significant exposure to sports also includes ownership stakes in the Toronto Maple Leafs, Raptors, FC, and Argonauts.

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Rogers Communications to acquire Bell&#39;s stake in Maple Leaf Sports &amp; Entertainment, expanding their sports portfolio and aiming to bring championships to Canada.

Rogers Communications Pays $3.46B for Majority Stake In Maple Leaf Sports &amp; Entertainment

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CMCSA

Rogers Communication (NYSE: RCI) and SenseNet have announced a new initiative to enhance wildfire detection in Canada, focusing on 10 communities to improve safety for both residents and first responders.

Rogers Communication, SenseNet Tie Up for New Technology

Guidance

Rogers Communication affirms strong 2024 outlook post-Q2 results, announces C$0.50 dividend.

Rogers Communication Navigates Mixed Q2: Subscriber Additions Clash with Revenue Miss

Rogers Communications Inc

ROGERS COMMUN INC A by Rogers Communications, Inc.

Reelcause Inc

RCI HOSPITALITY HOLDINGS ORD

RCI Hospitality Holdings, Inc. - Common Stock

RCI Hospitality Holdings Inc

Rogers Communications Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares are trading higher on Thursday. On Wednesday, the company disclosed an agreement to acquire Bell&#8217;s 37.5% stake in Maple Leaf Sports &amp; <a href="https://www.benzinga.com/pressreleases/24/09/g40917829/rogers-to-become-majority-owner-of-maple-leaf-sports-entertainment" target="_blank" rel="noreferrer noopener">Entertainment</a><a href="https://www.benzinga.com/pressreleases/24/09/g40917829/rogers-to-become-majority-owner-of-maple-leaf-sports-entertainment" target="_blank" rel="noreferrer noopener"> (MLSE) for $3.46 billion (Canadian $4.7 billion</a>).
Upon closure, Rogers will hold a 75% controlling interest in MLSE. Bell will retain long-term broadcast and sponsorship rights, including access to 50% of Toronto Maple Leafs and Raptors games.
This deal expands Rogers&#8217; sports portfolio, which includes ownership of the Toronto Blue Jays, Rogers Centre and Sportsnet, and partnerships with the Vancouver Canucks, Edmonton Oilers, Calgary Flames and the NHL.
With this transaction, Rogers aims to continue investing in efforts to bring championships to Canada. The transaction is pending league and regulatory approvals.
&#8220;As Canada&#8217;s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy,&#8221; said Tony Staffieri, Rogers Communications president and CEO.
In July, the company reported second-quarter revenues of $3.7 billion (C$5.093 billion), <a href="https://www.benzinga.com/news/earnings/24/07/39937266/rogers-communication-navigates-mixed-q2-subscriber-additions-clash-with-revenue-miss" target="_blank" rel="noreferrer noopener">missing the consensus of $3.76 billion</a> (<a href="https://www.benzinga.com/news/earnings/24/07/39937266/rogers-communication-navigates-mixed-q2-subscriber-additions-clash-with-revenue-miss" target="_blank" rel="noreferrer noopener">C$5.105 billion</a>).
As of June&nbsp;30, the firm had $3.17 billion (C$4.3 billion) of available liquidity, consisting of $331,980,750 (C$0.45 billion) in cash and cash equivalents and $2.8 billion (C$3.85 billion) available under bank and other credit facilities.
RCI Price Action: RCI shares are up 0.50% at $39.84 at the last check Thursday.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Rogers Communications Pays $3.46B for Majority Stake In Maple Leaf Sports & Entertainment

RBC Capital analyst Drew McReynolds maintains Rogers Communications (TSX:<a class="ticker" href="https://www.benzinga.com/stock/RCI#TSX">RCI</a>) with a Outperform and raises the price target from C$65 to C$66.

Price Target

TSX:RCI

TSX:RCI.B

RBC Capital Maintains Outperform on Rogers Communications, Raises Price Target to C$66

BMO Capital analyst Tim Casey maintains Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) with a Outperform and raises the price target from $67 to $70.

BMO Capital Maintains Outperform on Rogers Communications, Raises Price Target to $70

Signs agreement to buy out Bell&#39;s 37.5% ownership stake in MLSE
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Will invest to bring championships to Canada
Sportsnet will continue to broadcast 50% of Maple Leafs regional games and 50% of Raptors games controlled by MLSE

Rogers To Buy Bell's 37.5% Ownership Stake In Maple Leaf Sports & Entertainment For C$4.7B

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FCC Chair Rosenworcel Wants More Competition To SpaceX's Internet Satellite Constellation Starlink

Tony Staffieri&#39;s responsibilities as Chief Executive Officer remain the same. Reporting to the full Rogers board, Staffieri will continue to run the company.

Management

Rogers Says Edward Rogers Will Continue To Lead The Board As Executive Chair

Rogers Communication (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rci#NYSE">RCI</a>) and SenseNet have announced a new initiative to enhance wildfire detection in Canada, focusing on 10 communities to improve safety for both residents and first responders. SenseNet will deploy its AI-driven solutions across Alberta and British Columbia, starting with the implementation of these systems in various communities.
Leveraging RCI&#39;s robust 5G network, SenseNet&#39;s technology will utilize sophisticated gas sensors, smoke detection cameras and AI algorithms to offer precise and timely alerts for wildfire incidents.
The first phase of this deployment will target Sparwood and Willowvale in British Columbia, along with Christina Lake, Grand Prairie, Jasper, Marmot Mountain, Peerless Lake, Pelican Mountain, Wabasca-Desmarais and Wood Buffalo in Alberta, with installation expected to be completed by early spring.
In addition to this partnership, Rogers Communication is collaborating with the University of British Columbia and BC Wildfire Service to monitor wildfire conditions using 5G sensors. The company has already installed 5G-powered Pano AI cameras on wireless towers in Kelowna and Prince George.
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<h3>Rogers Communication, Inc. Price and Consensus</h3>
<img alt="Rogers Communication, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/f9/1723636213.png" style="height:285px; width:620px" title="" />
Rogers Communication, Inc. price-consensus-chart | Rogers Communication, Inc. Quote
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<h3>RCI&#39;s Other Partnerships to Aid Subscriber Growth</h3>
RCI has entered into some notable partnerships with Comcast (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmcsa#NASDAQ">CMCSA</a>), Disney (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) and Warner Bros. Discovery (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>), which are expected to aid subscriber growth in the upcoming quarters.
The Zacks Consensus Estimate for RCI&#39;s 2024 wireless total postpaid subscribers is pegged at 11.12 million, indicating year-over-year growth of 5.9%. The consensus estimate for wireless total prepaid subscribers is pegged at 1.152 million, indicating year-over-year growth of 3.7%.
Starting in September 2024, Rogers Communication will introduce NBCUniversal&#39;s Bravo channel in Canada, becoming the exclusive English-language rights holder for the network&#39;s unscripted programming, including new seasons of Bravo&#39;s popular franchise series.
RCI will also become the exclusive Canadian home for Warner Bros. Discovery&#39;s English-language lifestyle and factual brands, such as HGTV and The Food Network. This partnership aims to deliver a diverse range of the U.S. lifestyle content to Canadian audiences through Rogers Communication&#39;s platforms and distribution partners, ensuring the wide availability of these popular channels.
Additionally, Rogers Communication has partnered with Disney Entertainment to offer the ad-supported version of Disney+ at no extra cost to Rogers TV customers. This integration enhances RCI&#39;s entertainment packages by including Disney+ content, which features movies and shows from Disney, Pixar, Marvel, Star Wars and National Geographic, along with exclusive originals. This partnership reflects the company&#39;s commitment to delivering greater value and a seamless viewing experience to its customers.
<h3>Conclusion</h3>
Shares of this Zacks Rank #3 (Hold) company have plunged 15.3% year to date compared with the Zacks Computer and Technology sector&#39;s decline of 6.2%. This underperformance can be attributed to intense wireless competition from TELUS, BCE and other small regional carriers.
RCI has a strong partner base but faces headwinds from softness in the advertising market. To remain competitive, the company needs to invest heavily in new TV programs and TV channels. This may result in considerable cash drain from Rogers Communication&#39;s balance sheet.
The Zacks Consensus Estimate for RCI&#39;s third-quarter 2024 earnings per share is pegged at $1.03, which has remained unchanged in the past 60 days. The consensus mark for 2024 earnings is pegged at $3.58 per share, which has decreased 8 cents in the past 60 days.
<a href="https://www.zacks.com/stock/news/2322172/rogers-communication-rci-sensenet-tie-up-for-new-technology?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2322172">To read this article on Zacks.com click here.</a>

RBC Capital analyst Drew McReynolds reiterates ROGERS COMMUNICATIONS INC (TSX:<a class="ticker" href="https://www.benzinga.com/stock/RCI#TSX">RCI</a>) with a Outperform and maintains C$65 price target.

Reiteration

RBC Capital Reiterates Outperform on ROGERS COMMUNICATIONS INC, Maintains C$65 Price Target

Canaccord Genuity analyst Aravinda Galappatthige downgrades Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) from Buy to Hold and lowers the price target from C$59 to C$57.

Downgrades

Canaccord Genuity Downgrades Rogers Communications to Hold, Lowers Price Target to C$57

Rogers Communication, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) reported second-quarter revenues of C$5.093 billion, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39927656/rogers-communications-reports-second-quarter-2024-results" rel="noreferrer noopener">missing the consensus of C$5.105 billion</a>.
Consolidated adjusted EBITDA increased by 6% this quarter, and the adjusted EBITDA <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">margin increased by 230 basis points</a>.
Rogers&#8217; combined mobile phone and internet net additions totaled 188,000 in the second quarter and 275,000 for the year to date.
The company&#8217;s quarterly postpaid mobile phone net additions were 112,000, prepaid net additions were 50,000, and retail Internet net additions were 26,000.
Rogers said it has added 1.7 million mobile phone and Internet net additions over the past ten quarters.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39928846/us-stocks-could-open-sharply-lower-as-tesla-alphabet-earnings-offer-no-cheer-analyst-says-this-bode" rel="noreferrer noopener">US Stocks Could Open Sharply Lower As Tesla, Alphabet Earnings Offer No Cheer: Analyst Says This Bodes Well For Small-Caps, &#8216;Only Takes A Small Spark To Ignite A Powerful Move&#8217;</a>
As of June&nbsp;30, the firm had C$4.3 billion of available liquidity, consisting of C$0.45 billion in cash and cash equivalents and C$3.85 billion available under bank and other credit facilities.
Wireless service revenue increased by 4% this quarter, primarily as a result of the cumulative impact of growth in its mobile phone subscriber base over the past year.
Wireless equipment revenue decreased by 5%, primarily as a result of fewer device upgrades by existing customers.
Total Cable revenue and Cable service revenue decreased by 2% and 3%, respectively, this quarter as a result of continued competitive promotional activity and declines in Home Phone and Satellite subscriber bases. Media revenue increased by 7% this quarter.
The company reported adjusted earnings per share of <a href="https://www.benzinga.com/earnings">C$1.16, in line with the street view.</a>
Rogers declared a dividend of C$0.50 per share. The declared quarterly dividend will be paid on October 3, 2024, to shareholders of record on September 9, 2024.
Outlook: Rogers <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">reaffirmed the 2024 outlook</a>. The company sees total service revenue growth of 8% to 10%, adjusted EBITDA growth of 12% to 15%, capital expenditures of C$3.8 billion to C$4.0 billion, and free cash flow of C$2.9 billion to C$3.1 billion.
Price Action: RCI shares are trading lower by 0.25% to $37.49 at last check Wednesday.
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Rogers Communication Reaffirms 2024 Outlook: Sees Total Service Revenue Growth Of 8%-10%; Adjusted EBITDA Growth Of 12%-15%

Rogers Communications Reported Q2 Revenue Of C$5.093B Higher Than $5.046B YoY, Company Reports Adj. EPS Of C$1.16 Vs C$1.02 YoY

JP Morgan analyst Sebastiano Petti maintains ROGERS COMMUNICATIONS INC (TSX:<a class="ticker" href="https://www.benzinga.com/stock/RCI#TSX">RCI</a>) with a Overweight and lowers the price target from C$80 to C$69.

JP Morgan Maintains Overweight on ROGERS COMMUNICATIONS INC, Lowers Price Target to C$69

The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) CEO Bob Iger rejoined the company in the CEO role in<a href="https://www.benzinga.com/general/entertainment/22/11/29798775/bob-iger-returns-as-disney-ceo-after-reports-of-growing-rift-with-bob-chapek"> November 2022.</a>
In addition to leading Disney, Iger may soon add sports team owner to his list of titles.
What Happened: Disney is<a href="https://www.benzinga.com/sports"> no stranger to sports </a>with its ESPN brand and previous ownership of the Anaheim Mighty Ducks (NHL) and Anaheim Angels (MLB). The company's CEO is nearing a deal to acquire a stake in women's soccer team Angel City, which competes in the National Women's Soccer League (NWSL).
Angel City would be valued at $300 million in the deal, according to a <a href="https://www.semafor.com/article/07/02/2024/disney-ceo-bob-iger-and-willow-bay-to-by-soccer-team">report </a>from Semafor. This would make the team the most valuable women's sports team in the world.
Iger and his wife Willow Bay would buy the controlling stake of Angel City FC according to the report, which would make the duo have a larger stake than <a href="https://www.benzinga.com/news/22/12/29963917/reddit-co-founder-alexis-ohanian-prints-mean-tweets-and-screenshots-how-he-uses-them-as-motivation">current controlling shareholder </a>Reddit co-founder Alexis Ohanian. 
Unlike many other sports teams, there is no majority holder of the team. The unique ownership structure may have led to recent squabbles among owners, with several of them upset over increased spending. The team hired Moelis &amp; Co to seek an investor to assume control of the team's board, as <a href="https://www.latimes.com/sports/soccer/angel-city-fc/story/2024-03-16/angel-city-seeking-new-owner-for-controlling-stake-of-franchise">reported </a>by the Los Angeles Times.
The Bay-Iger group will invest at least $50 million in the team, according to the report. Bay and Iger beat out several interested parties including former Milwaukee Bucks (NBA) owner Marc Lasry and Avie Glazer, who is a member of the Glazer family, who own soccer team Manchester United (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>), and the NFL's Tampa Bay Buccaneers.
A pitch deck from Bay and Iger shared by Semafor showed the duo highlighting their 25 years of residency in Los Angeles, ability to lead media companies and growth initiatives for the team of expanding international reach and connecting the team to big area events in Los Angeles.
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Why It's Important: Sports teams have consistently achieved record valuations and demonstrated strong performance in recent years.
Angel City counts a handful of celebrities including Natalie Portman, America Ferrera and Eva Longoria as owners along with former soccer players Abby Wambach and Mia Hamm, and other athletes including Serena Williams and Billie Jean King. &nbsp;
Disney is among the media rights partners with the NWSL as part of an overall $240 million three-year <a href="https://www.nwslsoccer.com/news/nwsl-announces-landmark-media-partnerships-with-cbs-sports-espn-prime-video-and-scripps-sports">deal </a>signed in November 2023 by ESPN, Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Scripps Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSP#NASDAQ">SSP</a>). It is currently unclear how Iger's relationship with Disney and the team would impact the rights deal.
A <a href="https://www.sportico.com/feature/nwsl-soccer-team-value-ranking-1234740972/">Sportico </a>ranking of NWSL teams listed Angel City with a $180 million valuation in 2023, double the next highest team San Diego Wave, who were listed at $90 million. The Wave were sold for a then-league record $113 million earlier this year.
Angel City has an estimated $31 million in annual revenue in the Sportico ranking, which is nearly double that of San Diego at $16.3 million.
Sports teams continue to attract interest from billionaires and investors, with Jeff Bezos potentially selling Amazon shares to <a href="https://www.benzinga.com/general/sports/24/07/39621460/jeff-bezos-to-sell-5-billion-in-amazon-shares-could-he-be-raising-cash-for-seattle-seahawks-purcha">buy an NFL team.</a>
NFL star Patrick Mahomes is a <a href="https://www.benzinga.com/general/education/23/02/30870247/5-things-you-might-not-know-about-kansas-city-chiefs-qb-patrick-mahomes">co-owner of NWSL team</a> Kansas City Current.
Investors looking for <a href="https://www.benzinga.com/topic/public-sports-teams">publicly traded stocks</a> with exposure to sports ownership have limited options. A few soccer related options are Manchester United and Juventus (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JVTSF#OTC">JVTSF</a>).
Ares Management Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARES#NYSE">ARES</a>) <a href="https://www.benzinga.com/news/23/08/33602864/want-to-invest-in-lionel-messis-mls-success-theres-a-new-way-to-get-a-stake-in-inter-miami">is an investor</a> in Inter Miami, the Major League Soccer (MLS) team that landed soccer superstar Lionel Messi last year.
MLS team Toronto FC counts Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) and BCE Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) each as 37.5% team owners.
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Photo: Shutterstock

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Disney CEO Bob Iger Nears Purchase Of Women's Soccer Club, Could Set Record For Priciest Women's Sports Team

Rogers Communication (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rci#NYSE">RCI</a>) has signed significant multi-year agreements with Comcast&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmcsa#NASDAQ">CMCSA</a>) NBCUniversal and Warner Bros. Discovery (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>) to deliver top lifestyle and entertainment content to Canadians across various platforms. 
Rogers Communication is committed to increasing its investment in original Canadian content, working alongside independent Canadian producers. Over the past decade, the company has invested $6.9 billion in Canadian programming, reinforcing its dedication to providing the best content to Canadian audiences. This commitment creates bright long-term prospects for the company. 
This strategic move comes on the heels of RCI&#39;s partnership with Comcast, which is aimed at bringing advanced Xfinity products and technology to Canadians. The integrated entertainment platform offers a seamless viewing experience, combining live sports, news, on-demand content and streaming apps with an award-winning voice remote and user-friendly interface. 
Rogers Communication is set to collaborate with Canadian distribution partners to ensure broad accessibility of its content, allowing viewers to continue enjoying their favorite shows. Additionally, the content will be available on Citytv+, enhancing the programming lineup that includes Citytv, OMNI, FX and FXX. 
Starting in September 2024, RCI will introduce NBCUniversal&#39;s Bravo channel in Canada, becoming the exclusive English-language broadcaster of its content. From January 2025, Rogers Communication will also become the exclusive home for Warner Bros. Discovery&#39;s array of English-language U.S. lifestyle and factual channels, such as HGTV and The Food Network. 
Shares of this Zacks Rank #3 (Hold) company have plunged 18.4% year to date compared with the Zacks Consumer Discretionary sector&#39;s decline of 2.2%. This underperformance can be attributed to intense competition in the streaming market, which is set to be overcome by the latest partnership.
<div class="chart_embed">
<h3>Rogers Communication, Inc. Price and Consensus</h3>
<img alt="Rogers Communication, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/91/1718116011.png" style="height:285px; width:620px" title="" />
Rogers Communication, Inc. price-consensus-chart | Rogers Communication, Inc. Quote
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<h3>RCI&#39;s Upcoming Content Lineup to Aid Top-Line Growth</h3>
This recent partnership with CMCSA and WBD, besides a notable programming slate of original content in 2024 and 2025, is expected to aid to the company&#39;s top-line growth in 2025.&nbsp; 
The Zacks Consensus Estimate for RCI&#39;s 2025 revenues is pegged at $15.66 billion, indicating year-over-year growth of 3.05%. The consensus estimate for earnings is pegged at $4.08 per share, indicating year-over-year growth of 12.02%. 
Rogers Communication has announced several exciting upcoming shows like Law &amp; Order Toronto: Criminal Intent Season 2, premiering in early 2025 on Citytv. Canada&#39;s Got Talent Season 4 will air in Spring 2025. Hudson &amp; Rex is set to return for its seventh season in early 2025 and OMNI Television&#39;s ABROAD is renewed for a fourth season, airing in Spring 2025. 
RCI&#39;s Sportsnet has renewed its agreements to remain the exclusive regional broadcast partner for both the Edmonton Oilers and the Calgary Flames for the next 11 seasons, extending through 2035. Sportsnet, which also holds the national NHL broadcast rights in Canada, will continue to air Oilers and Flames games on TV and via live stream on Sportsnet+. 
Amazon (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), Rogers Communications and the NHL have announced a two-year agreement to stream Monday night NHL games exclusively on Prime Video in Canada for the 2024/25 and 2025/26 seasons. This marks the NHL&#39;s first exclusive national broadcast package with a digital-only streaming service in Canada.
<a href="https://www.zacks.com/stock/news/2286793/rogers-communication-s-rci-deals-to-aid-long-term-prospects?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2286793">To read this article on Zacks.com click here.</a>

Rogers Communication's Deals to Aid Long-Term Prospects

Will make content available to all Canadians through streaming and distribution partners Will increase investment in Canadian content and independent productions over the next decade Solidifies Rogers as the home of sports and entertainment in Canada

Contracts

Rogers Communications Announces Multi-Year Deals With NBCUniversal And Warner Bros. Discovery To Bring Top Lifestyle And Entertainment Content To Canadians

Two-year agreement among Rogers, Amazon and the&nbsp;NHL brings live games to more fans across more devices
TORONTO, April 25, 2024 /CNW/ -&nbsp;Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Rogers Communications, and the National Hockey League (NHL) today announced a milestone two-year agreement in Canada to bring hockey fans Monday night NHL hockey exclusively on Prime Video.
Prime Monday Night Hockey
Prime Monday Night Hockey&nbsp;will stream all national regular season Monday night NHL games in English for the 2024/25 and 2025/26 NHL seasons. The deal is the NHL&#39;s first exclusive national broadcast package with a digital-only streaming service in Canada.&nbsp;The Prime Monday Night Hockey package, produced by Prime Video, will feature a new broadcast team offering in-depth analysis and play-by-play coverage, and stream live exclusively to Prime members in Canada.
&quot;Rogers&#39; partnership with the NHL has been incredibly successful and integral to Sportsnet&#39;s leadership as the number one sports media brand in Canada,&quot; said Colette Watson, President, Rogers Sports &amp; Media. &quot;Today&#39;s content ecosystem is evolving, and we&#39;re really pleased to work with Amazon to continue to grow the game and help hockey fans watch games when and where they want.&quot;
&quot;With Prime Monday Night Hockey, we&#39;re offering our customers even more from their Prime membership,&quot; said Magda Grace, head of Prime Video, Canada, Australia and New Zealand. &quot;We&#39;re committed to driving more innovation for fans as we bring the NHL into more Canadian homes and across more devices on Monday nights than ever before. We&#39;re thrilled to be offering Prime Monday Night Hockey as part of our one-stop entertainment destination, which includes add-on channels like Sportsnet for even more hockey and sports content, the latest movies to rent or buy, popular and award-winning Amazon Originals to stream with Prime, and so much more.&quot;&nbsp;
&quot;We are thrilled to collaborate with Amazon and Rogers on this project. Amazon has a strong track record of presenting sports on Prime Video in a highly innovative and viewer-friendly manner,&quot; said David Proper, NHL Senior Executive Vice President, Media &amp; International Strategy. &quot;We are committed to serving hockey fans and reaching new audiences with our robust content distribution strategy that brings viewers exciting NHL content to a multitude of streaming services. With this groundbreaking partnership, we are continuing to stay true to that goal.&quot;&nbsp;
At&nbsp;the beginning of the 2023/24 hockey season, Sportsnet launched on Prime Video Channels in Canada. Today&#39;s announcement builds on the 12-year landmark agreement between Rogers and the NHL that was announced in November 2013. Since 2021, the NHL has worked with Amazon Web Services (AWS) to deliver new in-game analytics and video highlights to enhance fan experiences.&nbsp;

Amazon And Rogers Communications Announce 2-Year Agreement For Prime Video To Become The Home Of National Monday Night NHL Games In Canada Beginning In 2024-25 Season, With Prime Monday Night Hockey

WIIM

Rogers Communications shares are trading lower following Q1 earnings.

Rogers Communications&nbsp;Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>)&nbsp;reported&nbsp;fiscal first-quarter 2024 revenue growth of 28%&nbsp;year-over-year&nbsp;to $3.64 billion (4.90 billion Canadian dollars), beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38399718/rogers-communications-reports-first-quarter-2024-results" rel="noreferrer noopener">consensus of $3.58 billion</a>.
The adjusted EPS of $0.73 (CA$0.99) beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.72</a>.
Total service revenue grew 31% Y/Y to CA$4.36 billion on higher revenue growth in the Cable and Wireless businesses.
Wireless service revenue increased by 9% Y/Y, mainly aided by the cumulative impact of growth in the mobile phone subscriber base and revenue from Shaw Mobile subscribers.
Wireless equipment revenue increased by 4%, primarily due to a continued shift in the product mix towards higher-value devices.
Cable service revenue rose 94% Y/Y, aided by the acquisition of Shaw. Media revenue decreased by 5%&nbsp;Y/Y,&nbsp;due to lower subscriber revenue.
Rogers attracted 98,000 net postpaid mobile phone subscribers, up 3.2% Y/Y, with a churn of 1.10%.
Adjusted EBITDA increased 34% Y/Y to&nbsp;CA$2.21&nbsp;billion, with margins increasing 210 bps to 45.2% due to improving synergies and efficiencies.
Rogers generated CA$586 million in free cash flow for the quarter, up 58% Y/Y. It held CA$0.8 billion in cash and cash equivalents as&nbsp;of March-end. Capital expenditure rose 19% Y/Y to CA$1.06 billion.
Dividend:&nbsp;The company declared&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38399673/rogers-communications-declares-50-cents-per-share-quarterly-dividend" rel="noreferrer noopener">a&nbsp;quarterly dividend</a>&nbsp;of 50 cents&nbsp;on each of its outstanding Class B Non-Voting&nbsp;shares&nbsp;and Class A Voting shares.
&#8220;We continued to deliver industry-leading growth in the first quarter, our ninth straight quarter of growth and momentum,&#8221; said Tony Staffieri, President and CEO.
Rogers Communications stock lost 20% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust VL Dividend&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVD#NYSE">FVD</a>) and&nbsp;First Trust NASDAQ Technology Dividend Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDIV#NASDAQ">TDIV</a>).
Price Action:&nbsp;RCI shares are trading lower by 3.7% at $38.12 at&nbsp;the last check Wednesday.

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First Trust Value Line Dividend Index Fund ETF

TDIV

Rogers Comm's Q1 Earnings Exceed Expectations Driven by Wireless Strength

New research finds majority of Canadians say the number of streaming services and apps is overwhelming &nbsp;
New entertainment service will simplify the viewing experience onto one platform
Company to introduce 10G internet for seamless and reliable connectivity
TORONTO, April 24, 2024 (GLOBE NEWSWIRE) -- Rogers Communications&nbsp;announced today a 10-year agreement with Comcast to bring the latest award-winning Xfinity products and technology to Canadians across the country. Soon, millions of Rogers customers will be able to experience the future of entertainment with a new device powered by Entertainment OS, the next generation of connectivity via the best gateways and devices, as well as an expanded suite of home security products and features all developed by Comcast and Xfinity.
"Our partnership with Comcast builds on our legacy of bringing Canadians the best networks, entertainment and services in the world," said Tony&nbsp;Staffieri, President and CEO, Rogers Communications.&nbsp;"Canadians want to be connected to the best entertainment, anywhere, without interruption and we're proud to partner with Comcast to make this a reality."
Comcast is a global media and technology company that offers a world-class suite of connectivity and platform products to millions of customers worldwide including the United States under the Xfinity brand. As part of the agreement, the latest broadband, smart home and connectivity products available to Xfinity customers will be coming to Canada through Rogers starting later this year.
"As a world leader in converged experiences inside and outside the home, this platform will make it easy and simple for Rogers customers to connect to what they love with a seamless experience, whether on the big screen in their home or their smartphone on the go," added Staffieri.
"Building on our nearly decade-long partnership with Rogers, we're thrilled to deliver the next-generation of our entertainment and connectivity products, like Entertainment OS and the latest gateways, to millions of customers across Canada," said Dave Watson, Chief Executive Officer of Connectivity and Platforms, Comcast. "Now, with the addition of these new products and services, even more customers in North America will be able to take advantage of Comcast and Xfinity's innovative technologies."
The average Canadian subscribes to nearly twice as many streaming apps than&nbsp;five years ago and broadband data usage at Rogers has grown 200% in the same period. New research&nbsp;commissioned by Rogers&nbsp;shows the majority of Canadians (55%) say the number of streaming apps is overwhelming, half say&nbsp;searching for this content is time consuming, and 45% admit they sometimes can't&nbsp;find the show or sporting event they want to watch. The study also found accessing all streaming apps on one platform is the most appealing TV feature.
Today's announcement underscores Rogers commitment to ensuring Canadians have the best networks, the best content and the best experiences. Below is an overview of the offerings:

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