Rogers is Canada's largest wireless carrier and one of its largest cable operators, with a growing sports and media business. The Wireless segment — the largest and most profitable — serves roughly 12.2M mobile phone subscribers, or about one-third of the Canadian market, across three brands: Rogers (premium postpaid), Fido (mid-market postpaid), and chatr (prepaid). Wireless revenue is driven by subscriber count and average monthly plan pricing (ARPU), though both have been under pressure from competition and slower immigration. The Cable segment provides Internet, TV, home phone, and home monitoring to consumers and businesses, passing roughly 10.5M homes with about 4.5M Internet subscribers. Cable is branded under Rogers Xfinity, developed in partnership with Comcast. Internet subscriber growth and upselling to higher-speed plans are the key revenue drivers, partially offsetting declines in TV and home phone. Rogers also sells fixed wireless broadband (5G Home Internet) outside its wired footprint. The Media segment includes Sportsnet, the Toronto Blue Jays, and a 75% controlling interest in MLSE — which owns the Toronto Maple Leafs, Toronto Raptors, Toronto FC, and Toronto Argonauts — acquired in July 2025 for $4.7B. Rogers values its combined sports and media assets at over $20B and is evaluating options to surface that value through a partial sale or recapitalization. Rogers' business model centers on monthly subscriptions, and the company invests heavily in network infrastructure, with capex moderating as a path to free cash flow growth.