A Rogers Takeover Gets A Red Light
The media industry consolidation binge moves north: On Mar. 8, Canada's Rogers Communications won its month-long battle to buy Maclean Hunter for $2.3 billion. The deal, creating a sort of Canadian Time Warner, would give Rogers a third of Canada's cable-TV subscribers. Rogers, already big in cellular and long-distance phone service, would also get a publishing empire that includes Maclean's magazine and The Financial Post, Canada's leading financial newspaper. If approved by regulators, the purchase will help Rogers com- pete against phone companies and U.S. rivals in the race to create Canada's Info Highway.