TORONTO, Sept. 8, 2011 /CNW/ - Rogers Media Inc. today announced it will
not pursue a bid for the Canadian broadcast rights to the 2014 and 2016
Olympic Games as part of Canada's Olympic Broadcast Media Consortium.
"As much as Rogers Media would like to continue being involved with the
Olympic Movement, scheduling conflicts, combined with our financial
priorities, suggest that it's best for us not to be involved at this
time," said Keith Pelley, President, Rogers Media Inc. "We had an
option and chose not to exercise it."
Under the current agreement, Rogers Media is a 20% stakeholder within
the Consortium, with the remaining 80% interest controlled by CTV.
"This was a difficult decision on so many levels, but it's a disciplined
approach that allows us to pursue new opportunities to best serve our
viewers, shareholders and advertisers," continued Pelley.
This decision does not affect Rogers Media's commitment to the London
2012 Olympic Games. As an official rights-holder within the
Consortium, Rogers Media, along with CTV, will deliver more than 5,000
hours of coverage of London 2012 to Canadians on multiple platforms.
"At Vancouver 2010, Rogers and CTV together set a new standard of media
excellence, giving viewers the power of choice with multiplatform
coverage in multiple languages," said Pelley. "We look forward to
delivering that same robust content strategy next summer at London
Rogers Media Inc. is a division of Rogers Communications Inc., (TSX:
RCI; NYSE: RCI), which operates Rogers Broadcasting, Rogers Publishing,
Rogers Digital, The Toronto Blue Jays Baseball Club and the Rogers
Centre. Television properties include 5 Citytv stations, 5 OMNI
Television multicultural stations, specialty channel OLN, digital
channels FX Canada, G4, and The Biography Channel, Rogers Sportsnet,
which is comprised of five nationally-available channels, and The
Shopping Channel, a televised and Internet shopping service. Radio
properties include 55 AM and FM stations across Canada. Rogers
Publishing produces many well-known consumer magazines, such as
Maclean's, Chatelaine, Flare, L'actualité and Canadian Business. All
media properties are integrated with their own popular websites.
SOURCE Rogers Media Inc.
For further information:
Andrea Goldstein, Rogers Media Inc., 647-801-4394, Andrea.email@example.com