Rogers Communication
Mr. Robert Depatie (Pres & COO of Home and Bus. Division)
Ms. Paulina Molnar (Sr. VP of Controller & Risk Management)
Summary
Rogers Communications Inc. operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers. It also provides Internet and WiFi services; smart home monitoring services, such as monitoring, security, automation, energy efficiency, and smart control through a smartphone app. In addition, the company offers local and network TV; on-demand television; cloud-based digital video recorders; voice-activated remote controls, and integrated apps; personal video recorders; linear and time-shifted programming; digital specialty channels; 4K television programming; and televised content on smartphones, tablets, and personal computers, as well as operates Ignite TV and Ignite TV app. Further, it provides residential and small business local telephony services; calling features, such as voicemail, call waiting, and long distance; voice, data networking, Internet protocol, and Ethernet services; private networking, Internet, IP voice, and cloud solutions; optical wave and multi-protocol label switching services; IT and network technologies; and cable access network services. The company also owns Toronto Blue Jays and the Rogers Centre event venue; and operates Sportsnet ONE, Sportsnet 360, Sportsnet World, Citytv, OMNI, FX (Canada), FXX (Canada), and OLN television networks, as well as 55 AM and FM radio stations. The company was founded in 1960 and is headquartered in Toronto, Canada.
History
In 1925, Ted Rogers invented the world's first alternating current heater filament cathode for a radio tube, which then enabled radios to be powered by ordinary transformer-coupled household electric current. This was a breakthrough in the technology and became a key factor in popularizing radio reception. He also established the CFRB radio station in Toronto . In 1931, he was awarded an experimental television licence in Canada. On May 6, 1939, he was working on radar when he died suddenly due to complications of a hemorrhage, at the age of 38. He left a widow, Velma, and a five-year-old son, Edward . While his business interests were subsequently sold, his son later determined to carry on his father's legacy.In 1960, Ted Rogers and broadcaster Joel Aldred raised money to found Aldred-Rogers Broadcasting in order to purchase CHFI, an FM radio station in Toronto. Aldred-Rogers Broadcasting also became a part-owner of Baton Aldred Rogers Broadcasting , which established CFTO-TV, Toronto's first private television station. In 1964, Rogers established CFTR, an AM radio station. In 1967, Rogers established Rogers Cable TV in partnership with BARB. In 1971, new CRTC regulations forced BARB to sell its 50% stake in Rogers Cable TV.
In 1979, Rogers acquired Canadian Cablesystems, and became listed on the Toronto Stock Exchange as a result. In 1980, Rogers acquired Premier Cablevision and became the largest cable company in Canada. In 1986, Rogers Cable was renamed Rogers Communications; it established operational control over Cantel, a wireless telephone company in which Rogers had a stake.
Rogers Communications Inc. unveiled its new logo on January 17, 2000, marking the departure of its original logo.In 2000, Rogers acquired Cable Atlantic from Newfoundland businessman Danny Williams.
In July 2001, Rogers Media acquired CTV Sportsnet, which was renamed as Rogers Sportsnet that November. The FAN 590 sports radio station joined Rogers Media in August 2001, along with 14 Northern Ontario radio stations.In fall 2004, several strategic transactions were executed that significantly increased Rogers exposure to the potential of the Canadian wireless market. Rogers acquired the 34% of Rogers Wireless owned by AT&T Wireless Services Inc. for $1.77 billion.On December 2, 2008, Ted Rogers died of heart failure.In 2012, Rogers Cable filed a complaint in an Ontario court against penalties levied under a 'Truth in Advertising' law, claiming that the amount of the penalties, and the requirements imposed by the law, were in violation of the Charter of Rights and Freedoms.The company also had to recognize the rising market trend of customers canceling or foregoing cable television service subscriptions in favour of cheaper priced alternate content delivery means, such as streaming media services like Netflix, a demographic called "cord cutters" and "cord nevers." In response, Rogers acquired content with a speculated cost of $100 million to begin their own competing online streaming service, Shomi, much like the American Hulu Plus, which launched November 4, 2014. Shomi subsequently shut down after only 2 years of operation, on November 30, 2016.In the summer of 2014, Rogers reported a 24% drop in profit compared to the previous year's second quarter.
On March 15, 2021, Rogers announced its intent to acquire Shaw Communications for $26 billion, subject to regulatory and shareholder approval. This proposed acquisition was criticized by public lobby groups like Open Media, as a move that would reduce national competition in Canadian wireless communication by removing one of the four major competitors from the market.On September 29, chief financial officer Tony Staffieri left the company. On October 8, The Globe and Mail reported that this came about following Edward Rogers' attempt to have Staffieri replace Joe Natale, a former Telus executive and the company's third CEO since Ted Rogers' death in 2008. This attempt was opposed by Edward's mother and sisters. Edward Rogers was then removed as chairman of the board, while remaining a board member, on October 21. However, a proposal to remove Edward as chair of the Rogers Control Trust, which holds the majority voting interest in Rogers Communications on behalf of the family, did not receive sufficient support from other members of the trust's advisory committee.The following day, Edward Rogers, in his capacity as chair of the Control Trust, announced he was unilaterally enacting a written shareholder resolution replacing five of the board's independent directors, and two days later convened a meeting at which the "reconstituted" board re-appointed him as chair of the board of Rogers Communications. The legality of the resolution has been disputed by the board members that were purportedly replaced, and by other members of the Rogers family.The CRTC approved the merger on March 24, 2022.In May 2022, the Canadian Competition Bureau requested an order from the Competition Tribunal blocking Rogers's takeover of Shaw Communications arguing that the deal would substantially lessen competition by eliminating Rogers’ closest competitor in the wireless sector. It also requested an injunction to stop the cable companies from closing the deal until the application can be heard.
On April 19, 2021, "wireless calls, SMS and data services were down across Canada for almost an entire day because of an issue with a software update". Rogers reimbursed consumers for the inconvenience.
On July 8, 2022, millions of customers reported issues with Rogers mobile and Internet services, including some Government of Canada services, such as Service Canada, Canada Revenue Agency and passport offices, as well as Canadian interbank, money transfer network Interac, ATMs and 9-1-1 services. Rogers apologized for the mass outage and said it was trying to restore services. Rogers President and CEO Tony Staffieri issued an apology via Twitter about 17 hours after the start of the incident, acknowledging the issue to the public after a day of system outage. Staffieri acknowledged that the outage stems from a failed maintenance update. Rogers has offered credit as compensation for the outage.A report by Cloudflare suggested that the outage was due to internal, rather than external, causes. It identified spikes in BGP updates, as well as withdrawals of IP prefixes, noting that Rogers was not advertising its presence, causing other networks to not find the Rogers network. Cause of the outage or expected downtime was initially not revealed. The outage was later said to be caused by a maintenance upgrade that caused routers to malfunction, similar to the outage which occurred a year prior.On July 11, 2022, Canada federal government opened an investigation about the most recent outage and demanded telecoms companies to make communication protocols to keep customers better informed about possible disruptions. On the same day, Industry minister François-Philippe Champagne met the CEOs of Rogers, BCE Inc, Telus Corp, Shaw Communications Inc., Quebecor Inc.’s Videotron Ltd., SaskTel and Bragg Communications Inc.’s Eastlink. During that meeting, the Industry minister asked companies to implement an agreement in 60 days in which the companies will be able to help each other during an outage in one of their networks.As a result of the mentioned investigation, as well as scrutiny and criticism over the glitch and the company itself, some traders said the chances of a merger deal between Rogers and Shaw Communications dropped to nearly 62% on July, 11, 2022 from 88% in the week earlier.On October 25, 2022, it was announced that the Rogers-Shaw merger has been rejected.
Mission
Our goal is to be first to bring our customers the fastest speeds and latest innovations.
Vision
People: Our people are at the heart of our success
Key Team
Mr. Glenn A. Brandt (Chief Financial Officer)
Mr. Ronald E. McKenzie (Chief Technology & Information Officer)
Mr. Mahes S. Wickramasinghe (Chief Admin. Officer)
Mr. Paul Carpino (VP of Investor Relations)
Ms. Marisa L. Wyse (Chief Legal Officer & Corp. Sec.)
Mr. Bret D. Leech (Chief HR Officer)
Ms. Lisa L. Durocher (Exec. VP of Financial & Emerging Services)
References
https://en.wikipedia.org/wiki/Rogers_Communications
https://www.crunchbase.com/organization/rogers-communications-inc
https://sec.report/CIK/0000733099
https://ca.finance.yahoo.com/quote/RCI-B.TO/
https://www.comparably.com/companies/rogers-communications/mission
https://companiesmarketcap.com/largest-companies-by-revenue/
Mr. Robert Depatie (Pres & COO of Home and Bus. Division)
Ms. Paulina Molnar (Sr. VP of Controller & Risk Management)