Rogers Communications (RCI) 2026 TMT Conference summary

Sports and media strategy

• Closing of the Kilmer purchase expected early Q4 2026, pending league approvals from NBA and NHL.

• Plan to consolidate MLSE, Blue Jays, and Sports & Media into a single holding company post-acquisition.

• Early investor outreach underway, with private placement targeted for early 2027.

• Revenue and cost synergy initiatives expected to take 1–2 years to fully realize.

• Strategic value seen in combining teams and media assets, leveraging national audiences and cross-promotion.

Wireless business outlook

• Early 2026 saw high competition and discounting, leading to elevated churn and lower pricing.

• Market has stabilized with less discounting and about 2% sector growth, mainly from penetration.

• ARPU pressure expected for a few more quarters, with stabilization anticipated in 2027.

• Regulatory changes on fees are impacting strategies, with new approaches to offset lost income.

• Churn remains around 1% for postpaid customers.

Cable and wireline performance

• Wireline business has shifted from negative to modest (0–1%) service revenue growth post-Shaw acquisition.

• Growth driven by bundling, base management, and fixed wireless expansion.

• Margins have expanded modestly and are expected to remain sustainable with potential upside.

• Focus remains on service revenue, EBITDA, and free cash flow rather than just customer growth.