Guys, we don't need to debate about this here. There are financial reports that Rogers must publicly disclose. Of course they don't have to disclose every little detail, but they have disclosed enough:
http://netstorage-ion.rogers.com/downloads/IR/pdf/quarterly-results/Rogers-2016-Q2-Results-Release.pdf
Higher revenue
Consolidated revenue increased 2% this quarter, reflecting revenue growth of 1% in Wireless, 6% in Media, and 3% in Business Solutions, with stable revenue in Cable. Wireless service revenue increased by 5% primarily as a result of a larger subscriber base and the continued adoption of higher-postpaid-ARPA-generating Rogers Share Everything plans. Cable revenue was stable as continued double-digit Internet revenue growth of 15% fully offset the ongoing decline in Television and Phone revenue. We continue to see an ongoing shift in product mix to higher margin Internet services. Media revenue increased primarily due to the continued success of our sports-related assets, mainly from the Toronto Blue Jays and the strength of Sportsnet, partially offset by lower advertising revenue in conventional broadcast television, publishing, and radio.
So without the Blue Jays, Rogers would be s***ing the bed. Keep in mind these numbers cover April-June quarter. Q3 numbers ending September should be out in a couple of weeks.
More details:
Revenue
The 6% increase in revenue this quarter and 2% increase year to date were a result of:
higher sports-related revenue, driven by the strength of Sportsnet and success of the Toronto Blue Jays; partially offset by
lower advertising revenues across radio, publishing, and broadcast TV.
Operating expenses
The 7% increase in operating expenses this quarter and 3% increase year to date were a result of:
higher sports-related costs; partially offset by
lower conventional broadcast TV and radio costs, partly due to cost savings from previously announced job cuts.
Rogers is spending more on "sports-related" costs. Some of that could be payroll, otherwise it could be from the bad NHL deal that other people have already mentioned. Unfortunately we don't have that level of detail, but at least this time around we know the Jays aren't funding Rogers' bad magazine business. I like the wording in the revenue versus expense section where in the revenue section they specifically attribute the rise of sports-related revenue to Sportsnet and the Jays, but on the cost side they don't wish to disclose the exact cause.