The telecom company that both sides in the Rogers family feud say they’re committed to buying reported higher revenue, profit and cash flow in its last quarter, and for the whole of its 2021 fiscal year. Shaw posted $1.38 billion in revenue in its last quarter, compared to $1.35 billion in the same period in 2020, and boosted its net income to $252 million from $175 million (The Logic)
Talking point: The mess in the Rogers boardrooms, which some analysts are beginning to say could affect the $26-billion deal to combine the companies, is still supposed to close in 2022, Shaw said. Executive chair and CEO Brad Shaw added “it is not appropriate for Shaw to comment” on Rogers’ recent events. The Calgary-headquartered telecom’s revenue from its cable and wired internet services dipped, but it more than made up the difference with higher income from its wireless services. Meanwhile, over in the B.C. courts, Rogers Communications director Loretta Rogers filed an affidavit decrying her son Edward’s effort to retake control of the company, saying his late father Ted wanted “bedrock” issues of control to be handled in full shareholder meetings.