Rogers Acquires Bell's 37.5% Stake in MLSE for $4.7 Billion, Gains 75% Ownership of Maple Leafs and Raptors

Sep 18, 2024, 01:02 PM

Rogers Communications Inc. has acquired Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for $4.7 billion. This transaction increases Rogers' ownership to 75% of MLSE, which owns prominent sports teams including the Toronto Maple Leafs, Toronto Raptors, and Toronto FC. The deal significantly enhances Rogers' influence in the sports industry, adding to their existing ownership of the Toronto Blue Jays. Bell retains the opportunity to maintain existing broadcast rights for certain sports events. BCE shares indicated higher pre-market following the announcement.