Rogers Communications Inc., [RCI.B-T] the country’s largest wireless and cable company, sunk into the red in the fourth quarter, posting a loss of $138-million even as sales climbed 9 per cent.
The loss reflected a non-cash charge of $294-million to write down goodwill and assets in its television business that the company said was necessary to reflect a drop in value due to “recessionary declines in advertising revenue.”
All this monopolistic company needs is another fucking excuse to raise Internet and Phone bills. God, I hate the ISPs and phone companies in Canada. There is no competition whatsoever and the customers are shafted every time. I am paying $100 every month for only phone and internet services and I make sure I use it minimally!! So much for the IT revolution!!