Shomi wind down eats in to Q3 profits at Rogers

TORONTO – Rogers Communications saw its third quarter profits tumble 53% due to the wind down of its jointly owned shomi streaming service, the company said Monday, releasing its financial report three days earlier than planned.For the period ended September 30, 2016, net income of $220 million fell from $464 million in the same period last year, while adjusted net income dropped from $472 million to $427 million as a result of higher other investment-related gains incurred in the prior year. Consolidated revenue increased 3% this quarter to $3.5 billion, largely driven by growth in Wireless service and Media revenue of 6% and...