MONTREAL and TORONTO – Bell and Rogers have officially completed their $1.32 billion purchase of an ownership position in Maple Leaf Sports & Entertainment (MLSE).
The two companies said Wednesday that following all regulatory and sports league approvals, they have jointly acquired 75% equity ownership in MLSE, and have formed a holding company to govern their combined ownership position. The remaining 25% is held by Kilmer Sports Inc., owned by Larry Tanenbaum, who will continue to serve as chair of MLSE and as a governor of the National Hockey League, the National Basketball Association and Major League Soccer.
"Investing in MLSE is part of Bell's strategy to deliver the best content of all kinds to customers across all platforms – TV, radio, mobile and digital," said George Cope, president and CEO of BCE and Bell Canada, in a statement. "We look forward to making more of MLSE's top-tier sports content available to Bell customers and those of cable, satellite and other content distributors from coast to coast to coast."
“MLSE is truly a world-class organization offering some of the richest and most sought-after content in professional sports,” added Nadir Mohamed, president and CEO of Rogers Communications. “This investment fits squarely into our strategy of cost-effectively securing premium content and making it accessible to sports fans wherever, whenever they want. We look forward to working with MLSE to create highly interactive and engaging experiences for hockey, basketball and soccer fans.”
