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Rogers ends Canadian joint venture with Vice Media

Published 01/22/2018, 01:11 PM
Updated 01/22/2018, 01:20 PM
© Reuters. FILE PHOTO: A sign stands in front of Rogers Communications Inc. building on the day of their annual general meeting for shareholders in Toronto

© Reuters. FILE PHOTO: A sign stands in front of Rogers Communications Inc. building on the day of their annual general meeting for shareholders in Toronto

(Reuters) - Canada's Rogers Communications Inc (TO:RCIb) said on Monday it agreed to end a joint venture in Vice Studio Canada and Viceland just three years after announcing it.

The C$100 million ($80.24 million) deal was struck in 2014 in a bid for Rogers to build on Vice's edgy content targeted at younger viewers. (http://reut.rs/2rxQhrG)

Rogers Media has transferred its studio interest in the venture to Vice Canada, while all content from the TV channel Viceland would be only available online, the company said.

© Reuters. FILE PHOTO: A sign stands in front of Rogers Communications Inc. building on the day of their annual general meeting for shareholders in Toronto

Rogers' move comes amid stiff competition from video-streaming services such as Netflix (O:NFLX) and Amazon (NASDAQ:AMZN) Prime who are spending heavily to make original shows to draw viewers.

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