On August 22, 2012, Rogers Communications (Rogers), along with Bell Canada (Bell), announced the completion of their joint acquisition of a net 75 per cent stake in Maple Leaf Sports & Entertainment Ltd. (MLSE) from the Ontario Teachers' Pension Plan.
MLSE is now jointly owned by KSI Investments (KSI) (25%), Bell and BCE Master Trust Fund (37.5%), and Rogers (37.5%). Larry Tanenbaum, owner of KSI, will continue to serve as Chair of MLSE and as a Governor of the NHL, NBA and Major League Soccer. Rogers and Bell have negotiated long-term sports broadcasting rights for MLSE content, at fair market value, for their respective television, wireless, digital and radio assets, and have formed a holding company to govern their combined stake in MLSE.
Rogers’ net cash investment in the transaction totals approximately C$533 million.
Rogers is the leading destination for premium sports content in Canada with an unparalleled portfolio of sports assets: Toronto Blue Jays and their home at Rogers Centre, a strategic alliance with the Vancouver Canucks including naming rights for Rogers Arena, and long-term media agreements with the Edmonton Oilers, Calgary Flames, Ottawa Senators, MLB, NFL, NBA, MLS, CHL, NCAA, Rogers Cup, international soccer, tennis, and UFC. Powered by the combination of leading-edge LTE wireless and DOCSIS 3.0 broadband networks, live streaming, Rogers On Demand, and Rogers Anyplace TV applications, Rogers brings Canadians the best sports content on their platform of choice. This investment advances Rogers’ strategy to deliver highly sought- after sports content to Canadians anywhere, anytime, on any platform through its best-in-class networks and robust portfolio of media assets.
BCE Inc. provides wireline voice and wireless communications services, Internet access, data services and video services to residential, business and wholesale customers. Bell Canada is a local exchange carrier in Ontario and Quebec.
Rogers Communications is a diversified holding company operating in three segments: wireless, cable and media.
Maple Leaf Sports and Entertainment Ltd. is a privately held organization that owns and operates the Toronto Raptors basketball team and the Toronto Maple Leafs hockey team, as well as Toronto’s Air Canada Centre, where both teams play.
Further information can be found on Canada Newswire’s website.