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Ad Slowdown Leaves Rogers In Red

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TORONTO -- Rogers Communications, Canada's biggest cable company and magazine publisher, on Wednesday blamed its first-quarter loss on a puny advertising market and the poor performance of its wireless telephone division.

Rogers said it lost CAN$103.9 million ($67 million), or CAN 59 cents (38 cents) a share, compared to a year-earlier profit of CAN$19.2 million, or CAN5 cents a share. Revenue rose 10% to CAN$886.4 million ($571 million) from CAN$807.7 million.

The company also said it might spin off its media unit to shareholders to attract more U.S. investment to its cable business, but chairman Ted Rogers said no decision has been made.