Rogers Communications Inc. says it has signed a deal to purchase the remaining 25 per cent stake in Maple Leaf Sports activities & Leisure it doesn’t already personal from Kilmer Sports activities Inc. for $4.35 billion.
Rogers chief government Tony Staffieri known as it a defining second for the corporate.
“Our full possession of MLSE brings collectively Canada’s premier communications firm with Canada’s premier sports activities and leisure group,” Staffieri stated in a press release.
“It provides us much more alternative to put money into championship-calibre groups, create distinctive experiences for patrons and followers, and unlock long-term worth for shareholders.”
Final 12 months, Rogers closed a separate $4.7-billion take care of rival BCE Inc. to purchase its 37.5 per cent stake in MLSE.
The 2 corporations had beforehand owned equal stakes within the sports activities conglomerate, whereas the remaining quarter was owned by Larry Tanenbaum by means of his holding firm, Kilmer. Rogers held an choice permitting it to purchase out that remaining 25 per cent stake in MLSE.
Past its minority stake in MLSE, Kilmer owns the growth Toronto Tempo, who’re taking part in their inaugural WNBA season, and final month grew to become the primary Canadian investor within the PWHL.
Rogers expects the deal, which is topic to league approvals, to shut within the fourth quarter of this 12 months.
The corporate stated full possession will strengthen its capability to drive long-term progress throughout its companies.
“The strategic worth of our sports activities enterprise is even larger once you mix it with our core connectivity enterprise — it provides us a singular worth proposition to compete in a really crowded market,” Staffieri stated.
Along with MLSE, Rogers owns the Toronto Blue Jays baseball group, Rogers Centre and Sportsnet.
Earlier this 12 months, Rogers chief monetary officer Glenn Brandt stated the telecom large deliberate to mix its Rogers Sports activities & Media subsidiary, together with the Blue Jays and Rogers Centre, with MLSE.
The corporate intends to promote a minority stake within the consolidated Rogers sports activities, media and leisure property over the course of the following 12 months.
Rogers additionally has partnerships with the Vancouver Canucks, Edmonton Oilers, Calgary Flames, the NHL, the NBA, MLB and Dwell Nation.Â
Its new 12-year, $11-billion settlement for the nationwide rights to NHL video games in Canada begins within the upcoming 2026-27 season.
