Friday, May 24, 2024

History of Rogers Communications Inc

Rogers Communications Inc. is a diversified communications media company that is one of the largest modern mobile providers in Canada. In addition, the company is one of the main leaders in the field of television broadcasting and sports entertainment. Learn more about how Rogers Communications Inc. was created at toronto-future.com.

It all started with the radio

The history of the company dates back to 1960. Ted Rogers, the co-founder to be, worked at the Torys law firm in Toronto. He dreamed of creating his own radio company since his studenthood. Unfortunately, Ted Rogers couldn’t afford it, so he borrowed $85,000. Having received the money, Tod and his friend, TV presenter Joel Aldred, opened the first FM radio station in Canada called CHFI-FM.

In 1960, Rogers and Aldred bid for and won the licence for CFTO-TV, Toronto’s first private television station. On January 1, 1961, Rogers Communications Inc. began broadcasting.

At the time of its opening, Rogers and Aldred stations were very popular in Toronto. However, their expenses exceed income. Realising the high potential of cable television, Ted began to look for opportunities. In partnership with the Bassett and Eaton families, he obtained cable television licences for three markets, namely in Toronto, Brampton and Leamington.

Ted borrowed money again to finance the construction of the cable network. In 1969, his radio and cable businesses were $11 million in debt.

In the same year, the Canadian Radio Broadcasting Commission withdrew all of Roger’s licences. They agreed to restore them only on the condition that Ted buys out 50% of Bassett and Eaton’s share in the company. That put the man on the verge of bankruptcy.

Active development of the company

As of 1970, Rogers’ business was growing rapidly. In 1980, the entrepreneur began managing two large cable companies, Canadian Cablesystems and Premier Cablesystems. This allowed Rogers Communications Inc. to become the largest television company with 1.3 million users.

Then the Rogers Communications Inc. television company went public. Its shares started to be traded on the Toronto Stock Exchange.

In 1980, Rogers expanded his activities. He began to build and buy cable systems in the USA as the television industry at that time was booming. In 1981, the debts of Rogers Communications Inc. began to grow.

Cellular communication in Toronto

It is worth noting that Ted Rogers was one of the few who realised the full potential of cellular and wireless phones. In 1983, he acquired a 25% share in the Cantel company, which received the first national licence to build a Canada-wide cellular network. Cantel introduced the country’s first cellular service on July 1, 1985.

In 1986, Rogers Communications Inc. acquired operational control of Cantel. The creation of cellular communication in Canada lasted for 5 years and cost Rogers $700 million.

In 1989, Rogers Communications Inc. sold all of its US cable divisions and invested $1 billion into the development of wireless communication in Canada.

Starting in 1990, Rogers’ telephone business began to experience significant losses. The company has invested heavily in building a cellular network.

In 2000, Rogers continued to make deals and bought Groupe Vidéotron, Quebec’s largest cable provider, for $5 billion. In the same year, he also bought the Toronto Blue Jays and Cable Atlantic, which served most of Newfoundland.

Thus, as of 2007, the small broadcasting company turned into a cellular service provider. In the same year, Rogers Communications Inc. acquired five city TV stations. As of 2023, the company continues to develop in the sphere of mobile communications and broadcasting.

Latest Posts

.,.,.,.,.,.,.,. Copyright © Partial use of materials is allowed in the presence of a hyperlink to us.