Canada’s communications and entertainment company Rogers Communications is buying out the mass media company Bell Media’s 37.5 percent share of Maple Leaf Sports & Entertainment (MLSE) (professional sports company) for $4.7 billion ($3.5 billion US) giving it 75 percent ownership of the sports conglomerate.
‘AP’ stated that Rogers and Bell had held equal shares of MLSE, which owns the National Hockey League’s (NHL’s) Toronto Maple Leafs, the National Basketball Association’s (NBA’s) Toronto Raptors, the Canadian Football League’s (CFL’s) Toronto Argonauts, the Major League Soccer (MLS) team Toronto FC, and the Toronto Marlies, an American Hockey League (AHL) minor-league hockey team.
Rogers Communications is Canada’s communications and entertainment company driven to connect and entertain the Canadians. It operates primarily in the fields of wireless communications, cable television, telephony, and Internet with significant additional telecommunications and mass media assets. Rogers has its headquarters in Toronto, Ontario.
Toronto (Canada)-based Bell Media is Canada’s leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital media.
Toronto (Canada)-based Maple Leaf Sports & Entertainment Limited (MLSE) is Canada’s pre-eminent leader in delivering top quality sport and entertainment experiences to its fans. The MLSE is one of North America’s leading providers of exceptional experiences.
‘AP’ quoted Tony Staffieri, Rogers President-cum-head honcho, as stating, “The MLSE is one of the most prestigious sports and entertainment organizations in the world and we’re proud to expand our ownership of these coveted sports teams. As Canada’s leading communications and entertainment company live sports and entertainment are a critical part of our core business strategy.”
Rogers, which owns Sportsnet (television channel), already owns Major League Baseball’s (MLB’s) Toronto Blue Jays and its 49,286-capacity Rogers Centre home in Toronto, Ontario. Rogers also has strategic partnerships with the NHL teams Vancouver Canucks, Edmonton Oilers, Calgary Flames, and the NHL. When the transaction closes, Rogers will be the largest owner of the MLSE.
New York (US)-based the National Hockey League (NHL) is a professional ice hockey league in North America comprising 32 teams – 25 in the United States and 7 in Canada.
The proposed sale puts the value of MLSE at $12.53 billion ($9.2 billion US). Bell said the transaction is expected to close in mid-2025. It said it plans to use proceeds of the sale toward reducing the debt levels and to focus on the core growth drivers.
Bell, which owns The Sports Network (TSN), a Canadian English-language sports channel, will continue to air games. It said it has secured the content rights for the Leafs and Raptors on TSN for the next 20 years through an agreement with Rogers subject to the league approval.
The MLSE Chairman Larry Tanenbaum, via his holding company Kilmer Sports Incorporated, owns a 25 percent stake in the MLSE. Tanenbaum has represented the Raptors at the NBA’s Board of Governors and the Leafs with the NHL.
The Kilmer Sports Incorporated is an investment company in Canada that focuses on sports, media, real estate, and private equity. It is based in Toronto.
New York (US)-based the National Basketball Association (NBA) is a professional basketball league in North America composed of 30 teams. It is one of the major professional sports leagues in the United States and Canada and is considered the premier professional basketball league in the world.
Rogers Communications Incorporated and Bell reportedly did not see eye to eye on the merits of a Women’s National Basketball Association (WNBA) franchise with Tanenbaum eventually securing a Toronto team under the Kilmer banner.
Concluded the MLSE President-cum-Chief Executive Officer (CEO) Keith Pelley, “The MLSE has been fortunate to have one of the very best ownership groups in sports and entertainment for many years and it has led to the MLSE becoming one of the leading organizations in our industry. As an organization, we are grateful for their contributions, and we remain fully focused on our priorities and further driving a championship mentality across the MLSE.”
New York (US)-based the Women’s National Basketball Association (WNBA) is a women’s professional basketball league based in the United States and is composed of 12 teams. The league was founded on April 24th, 1996, as the women’s counterpart to the National Basketball Association (NBA). League play began in 1997.
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