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Rogers Acquires BCE's 37.5% Stake in MLSE for $4.7 Billion, Now Holds 75% Ownership

Sep 18, 2024, 01:16 PM

Rogers Communications Inc. has reached an agreement to acquire BCE's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for $4.7 billion CAD (approximately $3.5 billion USD). This acquisition increases Rogers' ownership to 75% of MLSE, the parent company of the Toronto Maple Leafs, Toronto Raptors, and Toronto FC. The deal significantly bolsters Rogers' presence in the Canadian sports industry, making it a dominant player. The transaction values MLSE at approximately $9.33 billion. Bell retains the opportunity to maintain existing broadcast rights for certain games, and Rogers plans to bring in additional private investors. Edward Rogers will have full control of the city's major sports teams, including the Blue Jays.