Rogers Communications Inc. is reportedly looking into the possibility of selling assets including the Toronto Blue Jays in order to free up cash for new investments.
Chief Financial Officer Tony Staffieri made the statement at the UBS Global Media and Communications conference on Tuesday.
Staffieri added that its shares in Cogeco Communications Inc. may also be shopped around as the Canadian media titan is looking at increasing investments into its wireless network, according to Bloomberg. He said Rogers intends to continue to bid for rights — such as the company’s current deal with the NHL — to professional sports programming, but doesn’t believe the conglomerate needs to retain ownership in the Blue Jays to achieve that.
Rogers has owned a majority (80 per cent) of the team since September 2000, and took over 100 per cent ownership in 2004. It’s also the sole owner of the team’s downtown stadium, the aptly named Rogers Centre, and of the television network Sportsnet, which currently holds exclusive rights to Blue Jays broadcasts and a majority of Major League Baseball programming in Canada.