The jumbotron at the Scotiabank Arena displays the score as the Toronto Maple Leafs play the Anaheim Ducks during third period NHL hockey action in Toronto, on Saturday, February 17, 2024.THE CANADIAN PRESS/Chris Young CANADAHALIFAX news Rogers acquires majority MLSE stake from Bell in $4.7B deal by admin 18 سبتمبر، 2024 written by admin 18 سبتمبر، 2024 80 CITYnews halifax / By Lucas Casaletto Rogers Communications Inc. has acquired Bell’s 37.5 per cent stake in Maple Leaf Sports and Entertainment (MLSE) for $4.7 billion. MLSE is the parent company of the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors, Toronto FC of MLS and the CFL’s Toronto Argonauts. It also owns the AHL’s Toronto Marlies and the Raptors 905 of the NBA G League. When the transaction closes, Rogers will be the largest owner of MLSE, with a 75 per cent controlling interest. The transaction is expected to close in mid-2025. “MLSE is one of the most prestigious sports and entertainment organizations in the world, and we’re proud to expand our ownership of these coveted sports teams,” said Tony Staffieri, president and CEO of Rogers. “As Canada’s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.” Rogers already owned 37.5 per cent of MLSE prior to Wednesday’s agreement with BCE. MLSE chairman Larry Tanenbaum owns the remaining 25 per cent through his holding company, Kilmer Sports Inc. In 2012, Rogers and Bell agreed to purchase a majority of MLSE from the Ontario Teachers’ Pension Plan for $1.32 billion ($1.78 billion). Deal will allow Bell to renew existing MLSE broadcast rights Rogers also owns MLB’s Toronto Blue Jays, Rogers Centre and Sportsnet, which have NHL national broadcasting rights. Sportsnet will continue to broadcast half of the Maple Leafs’ regional games and half of the Raptors’ games controlled by MLSE. “MLSE continues to appreciate significantly, and together with our sports and media assets, we plan to surface more value for shareholders long term,” added Staffieri. “This agreement also ensures long-term Canadian ownership and investment of these iconic teams.” Rogers is buying out Bell’s 37.5 per cent share of MLSE for $4.7 billion, giving it 75 per cent ownership of the sports conglomerate. THE CANADIAN PRESS/Sean Kilpatrick. Rogers wrote in a company news release that the deal will allow Bell to renew its existing MLSE broadcast and sponsorship rights long-term at “fair market value.” This includes access to content rights for 50 per cent of Maple Leafs regional games and 50 per cent of Raptors games. The transaction is subject to league and regulatory approvals. Bell said the telecommunications provider intends to direct the sale proceeds toward reducing debt levels. TSN, which Bell owns, will continue to broadcast Argonauts and Toronto FC games through independent agreements with the respective leagues. “We are proud of our time as co-owners of these iconic sports teams, and through this agreement, have ensured that fans can count on Bell’s continued support of their teams,” said Mirko Bibic, President and CEO of BCE Inc. and Bell Canada. “[Wednesday’s] announcement demonstrates that we are focused on creating the financial flexibility to support our ongoing transformation and core growth drivers.” Rogers is the parent company of CityNews and its affiliates. 0 comment 0 FacebookTwitterPinterestEmail admin previous post With strike over, Halifax Public Library staff return to prepare for reopening of branches next post تراجُع التضخم السنوي إلى 2,0%، هدفِ بنك كندا المنشود You may also like ترامب يحثّ لاعب الهوكي واين غريتسكي للترشح لرئاسة... 26 ديسمبر، 2024 سمر ماكنتوش، أفضل رياضية كندية لِعام 2024 26 ديسمبر، 2024 مقاطعة كيبيك تنجح في الحفاظ على المهاجرين الجدد... 26 ديسمبر، 2024 إعانات عائلية تصل إلى 360 دولاراً في جزيرة... 26 ديسمبر، 2024 تعيين أول نائبة من إقليم نونافوت في مجلس... 26 ديسمبر، 2024 What to do in and around Halifax this... 26 ديسمبر، 2024 Buoyed by election win, Nova Scotia premier tones... 26 ديسمبر، 2024 Mother and baby plush toys recalled due to... 26 ديسمبر، 2024 Police seeking information in two deaths ruled as... 26 ديسمبر، 2024 ترودو يدعو الكنديين إلى ترك السياسة جانباً في... 25 ديسمبر، 2024