Rogers Communications Remains Committed To Owning Blue Jays
Rogers Communications President & CEO Joe Natale "remains fiercely committed" in the company's ownership of the Blue Jays "even after costly trades of two players led to an earnings miss," according to Natalie Wong of BLOOMBERG NEWS. Natale said, “We are very much focused on the broad sports business, and we’re focused on investing in the capabilities of our sports properties as a whole." Rogers reported last week adjusted earnings per share in Q1 that were "below the lowest analyst estimate, partly due to a hit in media revenue following the trades" of C Russell Martin and DH Kendrys Morales. The Blue Jays had to "pick up portions of both players’ contracts as part of the deals." Rogers CFO Tony Staffieri last year said that the company was "considering selling assets such as the Blue Jays and a stake in media company Cogeco Inc. to off-load capital for other investments." However, Natale said last week that he has "no plans to sell the team" (BLOOMBERG NEWS, 4/18).