Shaw Communications

Rogers Communications Inc. Announces Pricing of US$2.5 billion Offering of US Dollar Senior Notes

Retrieved on: 
Thursday, February 8, 2024

TORONTO, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) (“RCI”) announced today that it has priced a public offering of two series of US dollar senior notes with an aggregate principal amount of US$2.5 billion, consisting of US$1.25 billion of 5.00% senior notes due 2029 and US$1.25 billion of 5.30% senior notes due 2034 (collectively, the “Notes”).

Key Points: 
  • TORONTO, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) (“RCI”) announced today that it has priced a public offering of two series of US dollar senior notes with an aggregate principal amount of US$2.5 billion, consisting of US$1.25 billion of 5.00% senior notes due 2029 and US$1.25 billion of 5.30% senior notes due 2034 (collectively, the “Notes”).
  • The sale of the Notes is expected to close on February 9, 2024.
  • A copy of the prospectus and prospectus supplement relating to the offering of the Notes may also be obtained from RCI by contacting Investor Relations as described below.
  • The Notes are not being offered in Canada or to any resident of Canada.

Rogers Communications Reports Fourth Quarter 2023 Results; Announces 2024 Financial Guidance

Retrieved on: 
Thursday, February 1, 2024

These are not standardized financial measures under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other companies.

Key Points: 
  • These are not standardized financial measures under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other companies.
  • Consolidated adjusted EBITDA increased 39% this quarter and our adjusted EBITDA margin increased by 340 basis points, as a result of improving synergies and efficiencies.
  • These are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other companies.
  • The following table outlines guidance ranges that we had previously provided and our actual results and achievements for the selected full-year 2023 financial metrics.

Starbucks Elects Daniel Servitje, Neal Mohan and Mike Sievert to its Board of Directors

Retrieved on: 
Tuesday, January 9, 2024

Starbucks Coffee Company (NASDAQ: SBUX) today announced the election of Daniel Servitje, Neal Mohan and Mike Sievert to its Board of Directors.

Key Points: 
  • Starbucks Coffee Company (NASDAQ: SBUX) today announced the election of Daniel Servitje, Neal Mohan and Mike Sievert to its Board of Directors.
  • View the full release here: https://www.businesswire.com/news/home/20240109494495/en/
    Servitje has served as CEO of Grupo Bimbo since 1997 and as Chairman since 2013.
  • Mohan is a director on the board of 23andMe and previously served on the board at Stitch Fix.
  • “We are excited to welcome Daniel, Neal and Mike as new independent directors to the Starbucks board,” said Starbucks Chair Mellody Hobson.

Barclays appoints Ryan Voegeli as Head of Investment Banking for Canada

Retrieved on: 
Thursday, January 4, 2024

Barclays today announces the appointment of Ryan Voegeli as Head of Investment Banking for Canada.

Key Points: 
  • Barclays today announces the appointment of Ryan Voegeli as Head of Investment Banking for Canada.
  • Mr. Voegeli has twenty years of investment banking experience, and joins Barclays from CIBC Capital Markets where he was Head of Global Diversified Industries Investment Banking.
  • Prior to joining CIBC in 2011, Mr. Voegeli was Head of Canadian Telecom, Media & Technology Investment Banking at Bank of America Merrill Lynch.
  • The Barclays Canada team delivers Investment Banking, Global Markets, and Global Research coverage, providing clients in Canada with seamless access to Barclays’ global network, and extensive in-country opportunities for international clients.

SkipTheDishes announces seasoned executive Paul Burns as new CEO

Retrieved on: 
Tuesday, December 5, 2023

Burns, former managing director at X, to succeed interim CEO Steve Puchala in driving Canada's homegrown delivery network forward

Key Points: 
  • Burns, former managing director at X, to succeed interim CEO Steve Puchala in driving Canada's homegrown delivery network forward
    WINNIPEG, MB, Dec. 5, 2023 /CNW/ - Today, SkipTheDishes, Canada's homegrown delivery network, announced that Paul Burns, most recently the managing director at X (formerly known as Twitter), has been named the company's new Chief Executive Officer.
  • Burns will be succeeding interim CEO Steve Puchala, who stepped into the role earlier this year following former CEO Howard Migdal's appointment to Executive Vice President, North America and CEO of Grubhub, within the Just Eat Takeaway.com network, in April 2023.
  • "Having witnessed Skip's incredible rise from a Prairies start-up in 2012 to the industry-leading organization it is today, I am honoured to be stepping into the position of CEO and working with a very talented team to create more transformative delivery experiences for Canadians," says Paul Burns, Chief Executive Officer, SkipTheDishes.
  • With Burns' transition to CEO, Interim CEO Steve Puchala will be retiring at the end of the year.

Rogers Communications Reports Third Quarter 2023 Results

Retrieved on: 
Thursday, November 9, 2023

Recognized as the best and most reliable wireless network in Canada for the fifth straight year by umlaut in July 2023.

Key Points: 
  • Recognized as the best and most reliable wireless network in Canada for the fifth straight year by umlaut in July 2023.
  • Introduced the red Rogers MasterCard with 48-month device equal payment plan with 0% interest and up to 2.6% cashback for customers.
  • Secured number-one spots for flagship radio brands 98.1 CHFI, CityNews 680, and KiSS 92.5 for the Summer 2023 ratings period.
  • We also returned $264 million in dividends to shareholders this quarter and we declared a $0.50 per share dividend on November 8, 2023.

TVA Group announces major changes to secure its future

Retrieved on: 
Thursday, November 2, 2023

MONTRÉAL, Nov. 2, 2023 /CNW/ - TVA Group (TSX: TVA.B) is announcing major changes to secure its future at a time of crisis for the global media industry.

Key Points: 
  • MONTRÉAL, Nov. 2, 2023 /CNW/ - TVA Group (TSX: TVA.B) is announcing major changes to secure its future at a time of crisis for the global media industry.
  • Given this situation, in the coming months TVA Group will implement a three-pronged reorganization plan approved by its Board of Directors:
    "The deficit TVA Group is currently running is simply no longer sustainable," said Pierre Karl Péladeau, acting President and CEO of TVA Group and President and CEO of Quebecor.
  • The second measure concerns the news outlets of TVA Group and Quebecor: TVA, LCN, Le Journal de Montréal, Le Journal de Québec, QUB radio, 24 heures, TVA Sports, TVA Publications magazines, and the other digital brands.
  • The plan announced today springs from a desire to restore TVA Group to a position of strength and secure its future.

Despite legal costs awarded to Rogers-Shaw, the competition commissioner’s challenge to the telecom merger was not a waste of taxpayer money

Retrieved on: 
Saturday, September 16, 2023

On Aug. 28, the tribunal ruled that the commissioner’s approach to block the merger was “unreasonable,” although the Competition Bureau stands by its decision to challenge it.

Key Points: 
  • On Aug. 28, the tribunal ruled that the commissioner’s approach to block the merger was “unreasonable,” although the Competition Bureau stands by its decision to challenge it.
  • Since the costs will be covered by the Competition Bureau’s tax-funded budget, some think the commissioner was wrong to challenge the merger.
  • Since winners typically get some of their legal costs covered, it was never a question of whether Rogers and Shaw would be awarded compensation, but how much.

How costs are calculated

    • In competition cases, the tribunal has the final say on costs.
    • To better understand the tribunal’s decision we need to distinguish between two categories of costs: disbursements and legal fees.
    • Since tariffs have not kept pace with increasing legal costs, it has become more common for amounts to be calculated as a percentage of actual fees.
    • Regardless of the method used, however, the reimbursement is meant to cover only some of the actual legal fees incurred.

The tribunal’s decision

    • However, it’s important to put this part of the tribunal’s decision in perspective.
    • Its impact on the $13 million total was very small, since the vast majority (about 94 per cent) of it was for disbursements, not legal fees.
    • The tribunal also chose to impose the lower of two estimates that Rogers and Shaw proposed.
    • “It was by no means vexatious or irresponsible of him to [continue to pursue the case].

Contested cases are uncertain

    • Enforcement agencies like the Competition Bureau have a duty to pursue cases they consider to be well-founded and in the public interest.
    • Fighting uphill battles that require sophisticated arguments, or test new theories, are part of the job.
    • As people assess whether Boswell’s legacy should be continued, it’s important to base it on more than a few misunderstood lines in a judgment.

Increasing monopoly power poses a threat to Canada's post-pandemic economic recovery

Retrieved on: 
Sunday, July 16, 2023

A select few corporations dominate key sectors, leading to reduced competition, rising prices and limited purchase options for consumers.

Key Points: 
  • A select few corporations dominate key sectors, leading to reduced competition, rising prices and limited purchase options for consumers.
  • A recent report from the Competition Bureau found that a lack of competition in the grocery sector is resulting in higher food prices.
  • The grocery industry is dominated by five major players — Loblaws, Metro, Empire (the owner of Sobeys), Walmart and Costco.

History of monopolies

    • Canada’s economy has historically been marked by notable monopolies, thanks to its vast geographical expanse and relatively sparse population.
    • Entities like the Hudson’s Bay Company and Canadian Pacific Railway company played significant roles in the country’s development.
    • This largely happened out of concern that domestic companies would be overwhelmed by American competitors unless they grew significantly.

The Rogers-Shaw merger

    • Despite these conditions, some remain skeptical about the impact of the merger on competition in Canada’s telecommunications sector.
    • Some critics have argued the merger may lead to higher prices for consumers and less innovation.
    • The merger could lead to a dominant market share in Ontario, reducing competition and potentially leading to higher internet prices.

Loopholes in competition law

    • The merger has sparked controversy because it exploited weaknesses in Canada’s anti-monopoly law, the Competition Act, to push the deal through.
    • As Canada’s competition watchdog, the Competition Bureau can review mergers to determine if they will be harmful to competition.

Challenges and opportunities

    • Monopolies have the potential to stifle innovation — a key driver of economic growth, as a lack of competition tends to dampen innovative efforts.
    • As Canada embarks on its post-pandemic economic recovery, policymakers must ensure economic resilience and inclusiveness while preventing existing monopoly issues from worsening.

Loreena McKennitt to pay tribute to Lisa LaFlamme at sold-out CJF Awards

Retrieved on: 
Thursday, June 1, 2023

TORONTO, June 1, 2023 /CNW/ - Loreena McKennitt, renowned Canadian singer-songwriter, will make a special appearance to perform in honour of Lisa LaFlamme at this year's sold-out CJF Awards on June 13 at Toronto's Fairmont Royal York.

Key Points: 
  • TORONTO, June 1, 2023 /CNW/ - Loreena McKennitt, renowned Canadian singer-songwriter, will make a special appearance to perform in honour of Lisa LaFlamme at this year's sold-out CJF Awards on June 13 at Toronto's Fairmont Royal York.
  • "Lisa LaFlamme is a powerhouse among Canadian journalists," says producer and CJF board member Bob Ezrin.
  • "Who better to offer a musical tribute than Loreena, another national treasure?
  • A passionate advocate for human rights, she will perform in honour of this year's CJF Tribute recipient, Lisa LaFlamme.