TORONTO – CTVglobemedia has sold off half of its interest in Maple Leaf Sports & Entertainment Ltd.(MLSE), owners of the Toronto Maple Leafs, Toronto Raptors and Toronto FC sports teams, as well as arenas and real estate.
"It is no longer strategically important for CTVgm to be MLSE’s second largest shareholder. So we were delighted to sell half our position to Mr. Tanenbaum, while still retaining a seat at the table", said Ivan Fecan, president and CEO of CTVglobemedia.
The 7.7% of their ownership stake was acquired by Larry Tanenbaum, the president of Kilmer Sports and chairman of Maple Leaf Sports & Entertainment Ltd. This brings his ownership interest in the sports and entertainment company to 20.5%, making him the second largest shareholder after the Ontario Teachers Pension Plan. After the transaction, CTVgm will hold a 7.7% interest in MLSE.
