November 6, 2008 / 5:56 PM / 9 years ago

UPDATE 1-Rogers says CEO's health stabilized in hospital

TORONTO, Nov 6 (Reuters) - The health of Rogers Communications Inc (RCIb.TO) founder and Chief Executive Ted Rogers has stabilized after he received hospital treatment for an existing heart condition, the company said on Thursday.

Rogers, 75, was admitted to hospital last Friday and temporarily handed over the reins of the cable and telecom company to Chairman Alan Horn.

“I am grateful for the quality of care I am receiving at the Toronto General Hospital, a world-class facility,” Ted Rogers said in a brief statement on Thursday.

The company did not say when he would return to work.

Rogers’ health raised questions about who would be appointed to replace him if he retires or is unable to return to work.

Earlier this week, analysts had tapped his children Edward and Melinda as potential successors. Edward Rogers is currently the CEO of the company’s cable operations. Melinda Rogers is senior vice-president of strategy and development.

    As well, Nadir Mohamed, the company’s highly regarded chief operating officer, was named as a potential prospect.

    Rogers Communications owns Canada’s biggest wireless company, as well as one of the country’s largest cable companies and Major League Baseball’s Toronto Blue Jays and the Rogers Centre where they play.

    It also owns more than 50 radio stations, several television stations and 70 magazines and trade journals. (Reporting by Wojtek Dabrowski; editing by Rob Wilson)

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