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ROGERS COMMUNICATIONS INC. 2007 ANNUAL REPORT 67
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The Special Committee was advised by independent counsel and
engaged an accounting firm as part of their review to ensure that
the sale price was within a range that would be fair from a financial
point of view. Further to this arrangement, on April 7, 2006, a com-
pany controlled by our controlling shareholder purchased the shares
in one of these wholly owned subsidiaries for cash of $7 million.
On July 24, 2006, the shares of the second wholly owned subsidiary
were purchased by a company controlled by the controlling share-
holder for cash of $6 million.
These transactions are measured at the exchange amount, being
the amount agreed to by the related parties and are reviewed by
the Audit Committee.
In 2005, with the approval of a Special Committee of the Board of
Directors and the Board of Directors, we entered into an arrange-
ment to sell to our controlling shareholder, for $13 million in cash,
the shares in two wholly owned subsidiaries whose only asset
will consist of tax losses aggregating approximately $100 million.
Years ended December 31,
(In millions of dollars) 2007 2006
Access fees paid to broadcasters accounted for by the equity method $ 18 $ 19
We have entered into certain transactions with companies, the partners or senior officers of which are or have been Directors of our
Company and/or its subsidiary companies. Total amounts paid to these related parties, directly or indirectly, are as follows:
Years ended December 31,
(In millions of dollars) 2007 2006
Legal services and commissions paid on premiums for insurance coverage $ 2 $ 2
We have entered into certain transactions with our controlling shareholder and companies controlled by the controlling shareholder.
These transactions are subject to formal agreements approved by the Audit Committee. Total amounts paid (received) by us to (from) these
related parties are as follows:
Years ended December 31,
(In millions of dollars) 2007 2006
Charges (recoveries) for use of aircraft and other administrative services $ (1) $ 1
6. ADDITIONAL FINANCIAL INFORMATION
RELATED PARTY TRANSACTIONS
We have entered into certain transactions in the normal course
of business with certain broadcasters in which we have an equity
interest. The amounts paid to these broadcasters are as follows: