has slightly lowered its revenue expectations for 2024, blaming weaker performance in its media business during the final months of the year.
Rogers’s media business, which includes sports, television and radio programming, accounts for about 10 per cent of the company’s overall revenue, which was up 11 per cent in the third quarter. Higher revenues from subscribers and the Toronto Blue Jays were offset by costs related to renovations at the Rogers Centre stadium in Toronto.
Last year, the company signed deals with Warner Bros. to license television content and with U.S. cable giant Comcast Corp. to run its television programming aggregator on Rogers devices. Comcast itself said in November that it planned to spin off most of its cable television networks into a separate publicly traded company, in what analysts saw as a reaction to the long-term pressures of cord-cutting.