Who's behind the news?
Who's behind the news?
Toronto, Ontario, Canada
The Rogers Control Trust (RCT) holds voting control of Rogers Communications Inc. and its subsidiaries. Rogers Communications is a Canadian telecommunications and media company whose media holdings include Rogers Media Inc., Sportsnet, and a stake in Maple Leaf Sports & Entertainment.
The Rogers Control Trust was created following the December 2008 death of founder Edward S. "Ted" Rogers, under his estate arrangements, to hold voting control of Rogers Communications for the benefit of successive generations of the Rogers family. According to a Canadian Radio-television and Telecommunications Commission (CRTC) ownership chart, the Rogers Control Trust is wholly held by its trustee, The Bank of Nova Scotia Trust Company. The Rogers Control Trust holds approximately 97 percent of Rogers Communications' Class A voting shares, which carry 50 votes per share, giving the trust majority voting control despite a minority overall economic stake in the company.
Prior to his death in December 2008, Ted Rogers controlled Rogers Communications through his ownership of voting shares in a private holding company. Under his estate arrangements, those shares passed to the Rogers Control Trust. In October 2021, a dispute among Rogers family members over the company's board and management, including Edward Rogers's attempt to replace CEO Joe Natale, led to a court challenge; the Supreme Court of British Columbia upheld Edward Rogers's actions as chair of the Control Trust.
Address
Toronto, Ontario, Canada
Sources
About Rogers. Voting Control of Rogers Group of Companies to be Held in Trust for Family
Canadian Radio-television and Telecommunications Commission. Ownership – Broadcasting: ROGERS Corporate Structure
The Globe and Mail. Ted Rogers's wishes for family control of company have complicated the power struggle
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