Rogers to buy Bell's stake in MLSE for $4.7 billion, becoming majority owner

The deal would give company 75% interest in Maple Leaf Sports & Entertainment

Rogers Communications Inc. will buy out BCE Inc.’s shares in Maple Leaf Sports & Entertainment (MLSE), becoming its majority owner.

Rogers announced Wednesday that it has signed an agreement to buy Bell’s 37.5 per cent stake in the sports company for $4.7 billion.

The deal would make Rogers the largest owner of MLSE with a controlling interest of 75 per cent.

“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,” Rogers chief executive Tony Staffieri said.

In addition to its existing stake in MLSE, of which it owns 37.5 per cent, the Toronto-based telecom’s sports portfolio includes the Toronto Blue Jays, Rogers Centre and Sportsnet. It also has partnerships with the Vancouver Canucks, the Edmonton Oilers, the Calgary Flames and the NHL.

Sportsnet will continue to broadcast half of Maple Leafs regional games and Raptors games controlled by MLSE.

The company said the deal will allow Bell to renew its existing MLSE broadcast and sponsorship rights, including access to content rights for half of both Toronto Maple Leafs regional games and Toronto Raptors games.

• Email: dpaglinawan@postmedia.com

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