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Rogers May Dump Toronto Blue Jays

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Rogers Communications is reportedly considering to sell some of its assets, including baseball team Toronto Blue Jays and a stake in media company Cogeco Inc.

According to a Bloomberg report, Rogers Chief Financial Officer Tony Staffieri, in a speech to the UBS Global Media and Communications conference Tuesday in New York, said the company plans to free up capital for other investments, however, no deal is imminent.

Earlier, Rogers had indicated that its is seeking alternative options enhance more value from its portfolio of assets, including the Jays. However, Staffieri's comments in New York were more specific.

Rogers plans to increase investments in its wireless network as part of a plan to capture a surge in data use, Chief Executive Officer Joe Natale told the Globe & Mail this week.

Staffieri said Rogers still wants rights to sports programming but does not need to own a team to have that, pointing to the company's 12-year deal with the National Hockey League.

by RTT Staff Writer

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