Share this article Share The move comes as Rogers has emerged as the dominant pay TV operator in Canada, with the majority of Canadians receiving its TV service.
The deal is expected to close by the end of this year.
“It is a significant investment in our business and our team and our ability to continue to grow our business in a way that makes sense for the market and the market itself,” Rogers chief executive officer Mike White said in a statement.
“Our commitment to innovation and to providing our customers with the best TV experience is fundamental to our success and to the continued success of our businesses and the Canadian economy as a whole.”
The deal was the latest move to close a $1 billion gap in Rogers’s market share.
The telco last year reported a $900 million loss, which was the second-biggest in the industry behind Dish Network, which reported a loss of $1,735 million in the same period.
However, Rogers has managed to claw back a chunk of its losses with its high margins.
It also is making big investments in other businesses, like a $500 million deal to buy back its TV network for $4 billion.
It was the first major acquisition of the TV service by a Canadian broadcaster.
The Rogers deal was announced a day after Dish, which has a $4.7 billion deal with Rogers to buy its satellite TV service, announced a $6.2 billion deal to acquire its internet TV service in a deal that closed on Monday.