Skip to main content
The Globe and Mail
Support Quality Journalism
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
Just$1.99
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to globeandmail.com
Just $1.99 per week for the first 24 weeks
Just $1.99 per week for the first 24 weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); }

People walk by the head office of Maple Leaf Sports and Entertainment, December 9, 2011, in Toronto, Canada.

Brett Gundlock/The Globe and Mail

Rogers Communications Inc. lost $8-million in its first three months as part owner of Maple Leaf Sports and Entertainment, after taking ownership of teams such as the NHL's Toronto Maple Leafs and the NBA's Toronto Raptors during off-seasons for both sports.

While the Raptors are about to take to the court for their regular season, the company won't be pulling in much revenue from the Maple Leafs thanks the National Hockey League lockout that has already seen the cancellation of games and threatens to kill the entire season.

Rogers, along with competitor BCE Inc., took ownership of 75 per cent of MLSE in August for about $540-million each. MLSE owns and operates the Air Canada Centre, the Maple Leafs, the Raptors, the MLS' Toronto FC and the AHL's Toronto Marlies.

Story continues below advertisement

The third quarter was comprised of July, August and September.

Meanwhile, profit at Rogers Communications's media division fell 9 per cent in the third quarter, as the advertising market continued its slump and baseball salaries offset other cost savings.

The Toronto-based company said its media assets – which include 55 radio stations, the Citytv and Omni networks, Sportsnet, more than 50 magazines including Maclean's and Canadian Business, and a sports division that includes the Toronto Blue Jays and the Rogers Centre – posted an adjusted operating profit of $50-million.

That's down 9 per cent from a year ago. Operating revenue declined 4 per cent, to $392-million.

"The decrease in revenue … was the result of softer results at television, publishing, digital media and the Shopping Channel," the company stated in its earnings report in which is reported an overall net profit of $466-million for the quarter. "[That was] partially offset by growth at Sportsnet and sports entertainment. The third quarter experienced a continued weakening of the advertising market from the levels seen earlier in the year, which suppressed growth in most media divisions."

The company said it cut its operating expenses by 3 per cent in the quarter to $342-million "primary due to cost containment efforts, which offset increased baseball player related costs in the quarter."

With sports emerging as a bright spot at the media division, the company spent about $167-million in the last quarter to buy Score Media, Canada's No. 3 sports network with about 6.6-million views. The deal closed late last week, but still requires approval from Canada's broadcast regulator. A decision is expected early next year. In the meantime, the company is being run by an independent trustee appointed by the Canadian Radio-television and Telecommunications Commission.

Story continues below advertisement

Rogers also gets about a 10 per cent in the newly formed theScore Inc., which is a new company built from the company's digital assets. The digital development company's, built to focus on the Score's hugely popular sports-relate apps, will begin trading Wednesday (today)on the TSX Venture Exchange under the symbol "SCR."

Report an error Editorial code of conduct
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies