In the wake of the crtc’s approval of Rogers Communications’ $3 billion purchase of Maclean Hunter, Rogers will begin a $54.5 million five-year upgrade of cable systems from mh and Edmonton-based Shaw Communications.
Sales projects underway at Rogers include the sale of mh’s u.s. cable television assets and the possible sale of Magnetic Enterprises.
Currently a subsidiary of mh, Magnetic is understood to be on the chopping block. Magnetic employees were told at a recent staff meeting that it was a distinct possibility Rogers would sell the business, according to a source at Magnetic. Magnetic North, Magnetic South, Magnetic Music, and Masters Workshop will most likely be sold as a unit, says the source.