Rogers said Wednesday that it has received all sports league approvals to buy Bell’s 37.5 per cent stake in Maple Leaf Sports and Entertainment (MLSE).
The cable giant got approvals from the NHL, NBA, CFL, MLS, and the American Hockey League (AHL) to become 75 per cent owners — which it values at $15 billion — in the sports empire.
The company now requires CRTC approval “to acquire an additional indirect interest in Toronto Raptors Network Ltd (NBA TV Canada), representing a very small portion of the transaction,” it said in a press release.
“We’re pleased to have league approvals to expand our ownership of MLSE, one of the most prestigious sports and entertainment organizations in the world,” Rogers President and CEO Tony Staffieri said in the release. “As Canada’s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.”
Rogers agreed to buy Bell’s stake in September and got Competition Bureau clearance in December.
Staffieri said in a recent quarterly earnings conference call that the cable giant was getting “substantial interest” from institutional investors for a piece of the organization.
Photo of Rogers CEO Tony Staffieri and NHL Commissioner Gary Bettman, via Rogers
