Rogers Communications released its 3Q results Oct. 17, three days ahead of schedule. Net income for the quarter was $220 million or 43 cents per share, down from $464 million or 90 cents per share. The decline was attributed to the previously announced shutdown of video streaming service Shomi. Analysts had estimated net income would be 89 cents per share. The wireless side showed the biggest revenue growth and postpaid customer additions since 2010 with 114,000 net additions. The only major division to see a decline in revenue was cable, slipping to $865 million from $871 million.
Corus Entertainment has released the fiscal 2016 Q4 and year end results. Consolidated revenues for the three months ending Aug. 31 were $384.5 million, up 99 per cent from $193.6 million last year. Consolidated revenues for the year ending Aug. 31 were almost $1.2 billion, up 44 per cent from $815.3 million last year. Advertising revenues increased 324 per cent in Q4 and 116 per cent for the year. The company reported that, as of April 1, 100 per cent of the operating results of Shaw Media were fully consolidated.
CBC News has decided to re-establish a presence in Turkey. In a memo to staff Oct. 14, Greg Reaume, managing editor of CBC News Coverage said the temporary bureau they opened in 2014 was so successful they decided to set up a new “pop-up” bureau. Correspondent Nil Koksal will head up the bureau in Istanbul which is expected to be fully operational by next week.
Just weeks after a consortium of Canada’s largest radio broadcasters united to select Radioplayer Canada as its digital streaming app of choice, the platform is now being introduced in Peru. Peru Radioplayer will launch in the first three months of 2017 with 20 radio stations already signed up. The company plans to roll out the technology across more commercial and state radio station in Peru once it gets established.