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Rogers Communications Inc. (TSX:RCI.B) announced Tuesday it will lay off an unspecified number of employees in its media division as it copes with a decline in advertising revenue.

Rogers spokesman Suneel Khanna said the layoffs will impact every company under the Rogers Media umbrella, including its television, publishing and digital operations as well as employees of the Toronto Blue Jays, which Rogers owns.

The news came hours after company founder and CEO Ted Rogers died in his Toronto home at the age of 75. He had long suffered from heart ailments.

Analysts say the telecommunications giant is in relatively good financial shape, but will likely take a more conservative turn without Rogers at the helm.

Like all media and communications companies, Rogers faces a more difficult economy, with little growth and a squeeze on advertising revenues that could affect its TV stations, magazines and radio operations.

The company, with 24,000 employees, also faces new entrants into the national wireless market, which could dampen profits from the lucrative business.

Source: THE CANADIAN PRESS