Rogers Communications Inc. (1.0%, 0.1%) (RCI - $37.42 - NYSE, RCI/B - $37.43 - Tokyo Stock Exchange) is one of the few companies in North America to offer consumers the “Quadruple Play” of video, high speed data, and fixed and wireless telephony through a wholly owned plant. The company, founded by late telecom pioneer Ted Rogers, is Canada’s largest cable and wireless company. As the largest spectrum owner in North America, Rogers is aggressively deploying the next generation of wireless services. Rogers also has a substantial media business that operates radio stations, television networks (including The Shopping Channel), magazines, and trade publications, the Toronto Blue Jays baseball team, and interests in the Toronto Maple Leafs (NHL) and Raptors (NBA). In late 2013, Rogers hired a new CEO named Guy Laurence from Vodafone (less than 0.1%). While Mr. Laurence has yet to formally unveil his vision, we expect it to include a focus on improving the customer experience through continued investment in plant, balanced by regular capital returns to shareholders.
From Mario Gabelli (Trades, Portfolio)’s Asset Fund Q3 2014 Commentary.
