Canada's Rogers shuts Shomi streaming service, expects losses

Reuters News
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Posted: Sep 26, 2016 5:07 PM

TORONTO (Reuters) - Rogers Communications Inc will incur third-quarter losses of between C$100 million ($75.60 million) to C$140 million as it shuts down its Shomi video streaming service, the Canadian company said on Monday.

Rogers said in a statement that Shomi, a joint venture it announced in August 2014 with fellow Canadian company Shaw Communications Inc, will wind down as of Nov. 30.

(Reporting by Ethan Lou in Toronto; Editing by Leslie Adler)