Blue Jays run lifts Rogers profit and company plans to buy remaining MLSE stake

Rogers reported higher fourth-quarter profit and doubled media revenue after the Blue Jays' World Series run, and company executives said they plan to buy the remaining 25% stake in Maple Leaf Sports & Entertainment.

Rogers Communications reported stronger quarterly results that it linked to the Toronto Blue Jays' run to Game 7 of the World Series and larger live and TV audiences. The company said record broadcasts and packed Rogers Centre attendances helped drive media revenue higher. Rogers also became majority owner of Maple Leaf Sports & Entertainment after a prior purchase and holds an option to acquire the remaining 25 per cent stake. Company leaders said they intend to complete that buyout and have begun preliminary planning to combine sports and media operations. What we know: - Rogers reported net income attributable to shareholders of $743 million for the quarter ended Dec. 31, up from $558 million a year earlier, and total revenue of $6.17 billion versus $5.48 billion. - Media revenue rose to $1.24 billion for the quarter, up from $547 million in the prior-year period, which the company attributed in part to the Blue Jays' World Series appearances. - Rogers said the Game 7 broadcast averaged 10.9 million viewers across Sportsnet, Sportsnet+ and Citytv, the World Series averaged 7.5 million viewers, and 23 million Canadians tuned in at some point. - The company closed a $4.7-billion deal last year to acquire a 37.5% MLSE stake from BCE, making Rogers the majority owner; it holds an option to buy the remaining 25% from Kilmer Sports by July and executives said they plan to do so. - Wireless revenue was reported at $2.97 billion and cable revenue at $1.98 billion; Rogers reported 39,000 total mobile net additions (37,000 postpaid), down from 69,000 postpaid additions a year earlier. Summary: Rogers attributes a meaningful part of its media revenue gain and higher quarterly profit to large audiences for the Blue Jays' World Series run and higher venue attendance. Executives said they plan to buy the remaining 25% of MLSE by July and have begun preliminary work to combine Rogers Sports & Media with MLSE, a process the company said could extend into 2027. The article mentions a TD Cowen report that estimated potential valuations and discussed possible future moves such as folding in assets or exploring spinouts. Undetermined at this time.