Rogers leadership blames ‘antiquated’ regulations for spending cuts, project cancellations

Rogers Communications Inc. leadership used the company's annual general meeting on Wednesday to blast federal telecommunications policies, announcing significant spending cuts they say are a direct result of an "antiquated" regulatory environment. Executive chair Edward Rogers and CEO Tony Staffieri told shareholders on April 22 that current regulations are making it increasingly difficult for the company to plan and invest in long-term infrastructure. The company is particularly frustrated with the CRTC’s decision to allow Canada's major telecom companies to use competitor networks outside of their own operating territories, the final rates for which the regulator says it will announce Friday. Rogers claimed the wholesale policy is forcing the company to subsidize its “immensely profitable competitors” by providing them with “below-cost access” to its networks. Echoing the words of other major telecom players, he argued such rules undermine the incentive to innovate and will ultimately lead to a loss of network construction jobs and higher prices for Canadians. Today’s telecom market has “never been more regulated,” claimed the executive chair, stating that “the current approach imposes significant costs and uncertainty.” Rogers pointed directly to regulations as a key reason for slashing its 2026 capital expenditure plans by 30 per cent compared to the previous year. The company’s updated financial outlook now projects capital spending between $2.5 billion and $2.7 billion, down from an earlier forecast of $3.3 billion to $3.5 billion. Staffieri noted that while the company has completed a major investment cycle to build out its 5G and fibre networks, certain future projects have become “uneconomical” and will be cancelled. Staffieri told the meeting that it is “no longer realistic” to sustain previous levels of investment when regulatory hurdles “directly impede investment in Canada’s digital infrastructure.” He emphasized that in a capital-intensive industry that relies on long-term investment cycles, “changing regulatory decisions” create a level of market uncertainty that calls for a reduced cost structure. The company plans to use the resulting increase in free cash flow to accelerate the reduction of its debt. Despite the spending cuts, the two maintained a positive outlook on their expectations for the company, particularly its sports and media division. “We invested $4.7 billion to become majority owner of Maple Leaf Sports & Entertainment and we plan to acquire the remaining 25 per cent later this year,” declared Rogers. Once completed, the company estimates the total value of its sports and media assets will be more than $25 billion, said Staffieri. Rogers emphasized that the purchase, along with its $26 billion acquisition of Shaw Communications, “are not isolated transactions,” but instead part of the company’s plan to assemble “the best collection of assets in the country.” Staffieri highlighted the company’s plans to use that portfolio to entice customers with bundled products, noting that “multi-product households bring in more revenue, and more loyal customers.” The executives delivered their remarks as Rogers announced its first quarter results for 2026, with profits of $482 million and revenues of $5.48 billion. This marked a 72 per cent increase in profit and a 10 per cent increase in revenues from Q1 2025. phalentm@thewirereport.ca

Rogers leadership blames ‘antiquated’ regulations for spending cuts, project cancellations

Regulatory |
By Phalen Tynes-MacDonald
|April 23, 2026

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Rogers leadership blames ‘antiquated’ regulations for spending cuts, project cancellations

Regulatory | By Phalen Tynes-MacDonald |April 23, 2026

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Regulatory |
By Phalen Tynes-MacDonald
|April 23, 2026