Canada's Rogers shuts Shomi streaming service, expects losses

Mon Sep 26, 2016 5:01pm EDT
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TORONTO, Sept 26 (Reuters) - Rogers Communications Inc will incur third-quarter losses of between C$100 million ($75.60 million) to C$140 million as it shuts down its Shomi video streaming service, the Canadian company said on Monday.

Rogers said in a statement that Shomi, a joint venture it announced in August 2014 with fellow Canadian company Shaw Communications Inc, will wind down as of Nov. 30.

($1 = 1.3228 Canadian dollars) (Reporting by Ethan Lou in Toronto; Editing by Leslie Adler)