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

Sep 18, 2024, 01:11 PM

Rogers Communications Inc. has reached an agreement to acquire Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for $4.7 billion Canadian dollars (approximately $3.5 billion USD). This acquisition increases Rogers' ownership to 75%, giving it majority control of the sports conglomerate that owns the Toronto Maple Leafs and Toronto Raptors. The deal also includes broadcast rights arrangements, allowing Bell to retain some existing rights, such as 50% of Raptors games. This move solidifies Rogers' dominance in the Canadian sports industry, adding to its existing ownership of the Toronto Blue Jays. BCE shares indicated higher pre-market following the announcement. Edward Rogers now has full control over the city's major sports teams.