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TORONTO, Sept 26 (Reuters) - Rogers Communications Inc RCIb.TO will incur third-quarter losses of between C$100 million ($75.60 million) to C$140 million as its joint-venture Shomi video streaming service is shut down, the Canadian company said on Monday.
Rogers said in a statement that Shomi, a venture whose plans it announced in August 2014 with fellow Canadian company Shaw Communications Inc SJRb.TO , will wind down as of Nov. 30.
Shaw, which sold its media assets to sister company Corus Entertainment Inc CJRb.TO for C$2.65 billion earlier this year, declined to comment.
Canadian telecommunications companies have been racing to counter the threat posed to their cable services from the streaming site Netflix Inc NFLX.O , which offers a wide selection of programs at a lower cost.
BCE Inc's BCE.TO Bell Media Inc CTVGM.UL , a rival of Rogers and Shaw, has also launched its own video streaming service, CraveTV.
($1 = 1.3228 Canadian dollars)