Ted Rogers, the well-known founder and Chief Executive Officer of Rogers Communications, passed away at the age of 75.

Edward Samuel Rogers was a one-of-a-kind person, said Alan Horn, chairman of Rogers Communications and acting CEO. He managed to build the large communications and media company from one FM radio station. He started this business during law school. Rogers was also “a leader also in giving to the community through his and Loretta's many philanthropic initiatives. He will be sadly missed."

The Canadian magnate, who has been staying in hospital since October, suffered from congestive heart failure. After several years of seeing his health weakening, he died on Tuesday at his home.

Rogers temporarily passed on the company to Horn, who will continue to lead it until the Board of Directors will form a special committee in order to lead an internal and external search for a new Chief Executive.  

Born in Toronto, Rogers was the fourth richest person in Canada in terms of net worth. Apart from The Rogers Communications, Uncle Ted was also the owner of the Toronto Blue Jays – a professional baseball team based in Toronto, - the Rogers Center – a multi-purpose stadium in the same city, five television stations and a series of magazines and trade publications.

Ted Rogers “had a pretty vulnerably physique, but as long as there was a deal in the air that he could sniff, he would make it," declared Robin Korthals, a former president of the Toronto Dominion Bank, who had a 40-year business relationship with the mogul.