Rogers Acquires Bell's Stake in MLSE for $4.7 Billion, Increases Ownership to 75%

Sep 18, 2024, 02:35 PM

Rogers Communications Inc. has announced a deal to acquire Bell'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%, giving it majority control of the sports conglomerate, which owns the Toronto Maple Leafs, Toronto Raptors, and other sports entities. The deal marks a significant shift in the Canadian sports landscape, with Rogers now holding a dominant position in the market. Edward Rogers will have full control, while Larry Tanenbaum is expected to exit MLSE by 2026. Bell will retain existing broadcast rights, including for 50% of Raptors games, despite selling its stake. The transaction is expected to close next year. The move also positions Rogers as one of the most influential sports industry players globally, adding to its ownership of the Blue Jays.