Ted Rogers’ Son Takes Control of Rogers Communications Empire

Telecom News Editorials Reports Glossary

Ted Rogers’ Son Takes Control of Rogers Communications Empire

5:45 am on December 23, 2008 | Category: Business, Corporate

Leadership of Canada’s biggest cable company, Rogers Communications, will be passed to Edward Rogers, son of the company’s late founder, Ted Rogers.

At the time of his death on December 2, Ted Rogers controlled the cable operator with 90.9% of its class-A voting stock, and 7.5% of non-voting class-B shares. These assets have now been transferred to an entity called the ‘Rogers Control Trust.’

As chair of the Trust, Edward Rogers “will act as the representative of the controlling shareholder in dealing with [Rogers Communications] on the company’s long-term strategy and direction.” His sister, Melinda Rogers, will act as vice-chair. Both will be accountable to an advisory committee composed of Rogers family members, trustees, and executives.

Rogers Communications is currently the dominant player in Canada’s cable and wireless service markets. Its fast-growing wireless division generated revenue of $1.73 billion in the third quarter of this year, up from $1.44 billion in the same period a year earlier. Third-quarter cable revenue, meanwhile came in at $961 million, up from $899 million in Q3/2007.