TORONTO — Rogers Communications Inc. has finalized its acquisition of BCE Inc.’s 37.5 percent stake in Maple Leaf Sports & Entertainment (MLSE), making Rogers the majority owner of the sports and entertainment giant.
The $4.7 billion deal, which closed on Tuesday after securing all necessary regulatory and league approvals, increases Rogers’ ownership in MLSE to 75 percent. MLSE is the parent company of prominent Toronto sports franchises including the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts, and Toronto FC.
Tony Staffieri, CEO of Rogers, lauded MLSE as “one of the most prestigious sports and entertainment organizations in the world.”
This acquisition significantly expands Rogers’ sports portfolio, which already features the Toronto Blue Jays baseball team, Rogers Centre stadium, and the Sportsnet media brand. Earlier this year, Rogers also cemented its commitment to hockey, signing a new 12-year, $11 billion agreement with the National Hockey League for national media rights, effective from the 2037-2038 season.