Rogers Evaluating Sale of Blue Jays, Cogeco Stake, CFO Says
08 December, 2017, 09:51 | Author: Heidi Alvarez
Tony Staffieri, the chief financial officer of Rogers Communications Inc., said Tuesday the company is considering selling the Toronto Blue Jays so it can acquire other assets.
The Toronto Blue Jays are one of two teams in Major League Baseball that are under corporate ownership; the other is the Atlanta Braves who are owned by Liberty Media.
Rogers Communications Inc.is considering the sale of assets such as baseball's Toronto Blue Jays and its stake in a smaller cable and media company to free up capital for its main communications businesses.
According to a Bloomberg report, Rogers Chief Financial Officer Tony Staffieri, in a speech to the UBS Global Media and Communications conference Tuesday in NY, said the company plans to free up capital for other investments, however, no deal is imminent. "Again, would like to get the content without necessarily having the capital tied up on our balance sheet".
A spokeswoman for Rogers, Sarah Schmidt, said on Wednesday that the company "would like to surface value and get credit" for its "terrific sports assets".
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The Blue Jays begin spring training on February 23 against the Philadelphia Phillies and will open the 2018 regular season against the New York Yankees on March 29.
The company wants to own sports rights content in Canada, but not necessarily own a team, referring to their 12-year licensing deal with the National Hockey League.
The Miami Marlins were sold to a group of investors for $1.2 billion in October.
Rogers Communications, which is controlled by Canada's prominent Rogers family, is also looking to sell a C$1.5 billion ($1.2 billion) stake in Cogeco Inc and its subsidiary, a cable TV company with operations across the United States and Canada.
Insiders contain to comply with strict disclosure requirements with regard to the sale or purchase of the shares of their company. Louisiana State Employees Retirement System increased its stake in shares of Harley-Davidson by 0.9% in the second quarter.
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New Delhi has traditionally supported the Palestinian cause even as it opened diplomatic ties with Israel in 1992. In the past though, the Narendra Modi government has underlined the significance of East Jerusalem for Palestine.
He entered the house through ventilator hole and in a fit of rage hit Shakuntala with a blunt object which killed her. With the circumstances hinting foul play, the police had little clue to go on apart from a fairy tattoo on her back.
He says high temperatures will only be in the mid 40s, but it will feel like the 30s with the wind chill. Colder air will continue to spill into Georgia from the north Friday thanks to another cold front.
The most recent bid on the stock was registered at $14.88. "It's hard to speculate on what the final bill is going to say". Technical analysis is as a method that applies to take a guess of future price trends through analyzing market action.
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The Nets' games against the Thunder and Miami Heat this week are during the 25th anniversary of the NBA's first games in Mexico. Silver added that the league was exploring the cost involved in a Mexican G League franchise.
AoL is disappointed with the decision taken by the NGT for damaging Yamuna floodplains during its World Culture Festival. An expert panel had told the NGT that the restoraton of the floodplain would cost Rs 42.02 crore.
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