MONTREAL – Quebecor today reported its third quarter financial results, which show its revenues were up 3% from the same quarter in 2020 to $1.2 billion and adjusted EBITDA increased 1% to $520.3 million.
Quebecor reported an increase in revenue in its media segment from $157.2 million in Q3 2020 to $190.6 million in Q3 2021. Adjusted EBITDA for the segment increased from $24.9 million to $36.6 million.
Sports and entertainment also saw an increase in both revenue and adjusted EBITDA with revenue going from $48.5 million in Q3 2020 to $49.1 million in 2021 and adjusted EBITDA going from $7.6…
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They say he has a pattern of overstepping
By Amanda OYE
VANCOUVER – On its face, the court case this week between Edward Rogers as the chair of the Rogers Control Trust and Rogers Communications Inc. (RCI) is largely about the interpretation of the company’s articles in conjunction the B.C. Business Corporations Act.
Tangled up in this, however, are two competing storylines of what has happened at RCI over the last two months and of what the company’s founder, the late Ted Rogers, would have wanted.
This became clear last Friday when several affidavits were filed in response to Edward…
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Shaw asks CRTC to dismiss requests of “opportunistic proponents of delay”
OTTAWA – Bell and Telus both filed letters yesterday with the CRTC supporting the Public Interest Advocacy Centre and National Pensioners Federation’s (PIAC-NPF) procedural request to have the Commission’s public hearings into the broadcasting side of Rogers Communications’s purchase of Shaw Communications delayed.
The hearings are scheduled to begin Nov. 22. PIAC-NPF, Bell and Telus all argued there is too much uncertainty around who controls Rogers for the CRTC to conduct fair hearings that protect the public interest.
Bell, in its letter, called the situation “unprecedented” and said it “places…
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CALGARY – Shaw Communications Inc. announced last Friday its fourth quarter and full year financial and operating results, which include increases in net income by 44% and 43% respectively.
“Consolidated revenue increased 2.1% year-over-year to $1.38 billion, adjusted EBITDA increased 3.4% year-over-year to $614 million and net income increased 44% to $252 million,” a press release says.
For fiscal 2021, Shaw reported revenue increased 1.9% to $5.5 billion and adjusted EBITDA grew 4.6% to $2.5 billion. Net income for 2021 increased 43.3% to $986 million.
In Q4, Shaw “added approximately 60,500 new Wireless customers,” the press release said. “Postpaid net additions of approximately…
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VANCOUVER – The ongoing Rogers family battle made its way into a Vancouver courtroom of the British Columbia Supreme Court Monday when lawyers for Edward Rogers, chair of the Rogers Control Trust, and Rogers Communications Inc. (RCI) laid out their arguments before Justice Shelley Fitzpatrick.
At issue before the court is whether Mr. Rogers, the petitioner in this case, has the power as chair of the Rogers Control Trust to make changes to RCI’s board of directors by consent resolution rather than at a shareholder meeting.
Mr. Rogers’s lawyer Kenneth McEwan told the court the matter at hand is “a…
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OTTAWA – With control of Rogers Communications now before a B.C. judge, the Public Interest Advocacy Centre and National Pensioners Federation has asked the CRTC to hold off on the public hearing into the purchase of Shaw Communications by Rogers Communications.
“The press has reported on a series of events unfolding at Rogers that call into question the legal status of the existing board of directors, and whether the current officers of the company have the confidence of the board of directors or whether they will even remain as officers of…
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By Denis Carmel
When Vidéotron entered the wireless market, around 2010, it sought a deal with Rogers over the sharing of infrastructure and spectrum in Québec and Eastern Ontario. Rogers agreed.
So, discussions started, and a Network Operating Agreement (NOA) was signed in 2013 for 20 years. Yes, 20 years.
The purpose was to simply reduce costs on both sides and compete with Bell, which was the main operator in Québec at the time.
Bell and Telus reached a similar Canada-wide agreement in 2008.
But as Vidéotron gained market shares at the expense of Bell but also Rogers, and with the changes in the…
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TORONTO – Wednesday evening, Robert Gemmell, Alan Horn and Philip Lind all issued statements weighing in on the ongoing power struggle at Rogers Communications Inc. (RCI) and supporting Edward Rogers.
The statements follow the filing of court documents by Mr. Rogers in the Supreme Court of British Columbia Tuesday, and subsequent reports disputing some of the information laid out by Mr. Rogers in those documents.
Gemmell, who notes in his statement he has been an independent director at RCI since 2017, said: “As Board Chair, Edward has always acted deliberately with consideration and with preference for consultation. The discussion…
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You can’t fight public interest, he warns
By Amanda OYE
MONTREAL – Pierre Karl Péladeau (above) wants everyone to know Videotron is ready to expand outside Quebec.
“We’re not a Monday morning quarterback – we’ve been there, we’ve done that and we’re ready to go,” said Péladeau in an interview with Cartt.ca.
Péladeau is president and CEO of Quebecor, Videotron’s parent company, and has also been president and CEO of Videotron since June.
Videotron got into mobile back in 2006 when it “started as an MVNO (mobile virtual network operator) on Rogers’s network,” he said.
“We, at that time, thought that we would need…
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VANCOUVER – In his capacity as chair of the Rogers Control Trust, Edward Rogers filed documents in the Supreme Court of British Columbia on Tuesday in a move towards establishing the validity of his version of the board of Rogers Communications Inc. (RCI).
In his petition, Mr. Rogers asks the court to declare “the written consent resolution dated October 22, 2021, signed by the shareholders holding at least two-thirds of the Class A Voting Shares of RCI is valid and effective.” This would resolve the issue of there currently being two boards claiming to be the one and only RCI…
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