Rogers, Bell bid for MLSE all about content, broadcast rights

TORONTO – Perennial rivals Rogers Communications and Bell Canada announced Friday that they are teaming up to buy a majority stake in Maple Leaf Sports & Entertainment for $1.32 billion. The two communications companies purchased the 75% interest from the Ontario Teachers’ Pension Plan. Rogers will pay $533 million for a 37.5% stake in the sports empire, while Bell will pay $398 million for a 28% stake in MLSE, and it pension plan will invest $135 million for a 9.5% stake. In a concurrent transaction, Kilmer Sports Inc. (KSI) will increase its current 20.5% ownership interest in MLSE to 25%....