Rogers Communications to buy out Bell’s share of MLSE for $4.7 billion

Rogers, which owns Sportsnet, already owns Major League Baseball’s Blue Jays and its Rogers Centre home.

The deal, subject to league and regulatory approvals, provides Bell with the opportunity to “renew its existing MLSE broadcast and sponsorship rights long-term at fair market value.” This includes access to content rights for 50 per cent of Maple Leafs regional games and 50 percent of Toronto Raptors games for which MLSE controls the rights.

Rogers said the purchase will not affect its debt leverage “and financing will include private investors.”

“MLSE continues to appreciate significantly, and together with our sports and media assets, we plan to surface more value for shareholders long-term,” said Staffieri. “This agreement also ensures long-term Canadian ownership and investment of these iconic teams.”

Rogers also has “strategic partnerships” with the Vancouver Canucks, Edmonton Oilers, Calgary Flames and NHL. When the transaction closes, Rogers will be the largest owner of MLSE with a controlling Interest in 75 per cent of MLSE.

Rogers and Bell closed their deal to acquire an ownership position in MLSE in August 2012 after announcing the purchase from Ontario Teachers’ Pension Plan in December 2011.

In acquiring 75 per cent equity ownership in MLSE, they formed a holding company to govern their combined ownership position.

At the time, Kilmer Sports increased its 20.5 percent ownership stake to 25 percent.

Rogers Communications to buy out Bell’s share of MLSE for $4.7 billion

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