By Jaspreet Singh April 24 (Reuters) – Rogers Communications posted a drop in first-quarter profit on Wednesday, as it grappled with weakness at its media business and higher expenses, sending shares of the Canadian telecom company down more than 3% in afternoon trading. Media revenue at the owner of baseball team Toronto Blue Jays fell 5% to C$479 million in the quarter ended March 31 due to lower subscriber revenue and higher media content costs. The business also saw a 7% rise in operating costs to C$582 million because of programming and production costs and higher payroll related expenses for its baseball team. “Finance costs, the acquisition of Shaw Telecom,
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