Updates headline and adds share movement in paragraph 1
By Kritika Lamba
Jan 29 (Reuters) - Rogers Communications RCIb.TO reported fourth-quarter revenue above analysts' estimates on Thursday, led by strong growth in its media and sports business, sending its U.S.-listed shares RCI.N up about 2%.
The company reiterated plans to acquire the remaining 25% minority stake in Maple Leaf Sports & Entertainment (MLSE) by 2026, further consolidating its hold on Canada's sports assets.
MLSE owns the NBA's Toronto Raptors and the NHL's Toronto Maple Leafs, while Rogers also owns the Toronto Blue Jays, giving it one of the deepest sports portfolios among Canadian broadcasters.
The push deeper into sports comes as media companies compete aggressively for broadcast and streaming rights, one of the few categories that continue to attract large, real‑time audiences and premium advertising dollars amid broader cord‑cutting pressures.
Its media revenue grew 126% to C$1.2 billion ($886.07 million) in the quarter, helped by the post-season success of the Toronto Blue Jays, and higher advertising and subscriber revenue related to the launch of the Warner Bros. Discovery suite of channels.
Rogers added 37,000 monthly postpaid bill-paying wireless phone subscribers during the quarter, below estimates of 56,210 additions, according to analysts polled by Visible Alpha.
The Canadian telecom market continues to face low growth due to cutbacks on immigration, said David McFadgen, analyst at Cormark Securities.
Operators are responding by leaning more on bundling wireless plans with streaming subscriptions, live sports and exclusive content to retain customers, justify price increases and stand out in a competitive market dominated by Rogers, BCE BCE.TO and Telus T.TO.
The wireless service provider reported fourth-quarter revenue of C$6.17 billion ($4.55 billion), compared to estimates of C$5.98 billion, according to data compiled by LSEG.
($1 = 1.3543 Canadian dollars)
(Reporting by Kritika Lamba in Bengaluru; Editing by Vijay Kishore)
((Kritika.Lamba@thomsonreuters.com;))