Rogers Secures Approval for Acquisition of Bell's Stake in MLSE
Deal News | Dec 13, 2024 | Globenewswire
Rogers Communications has received approval from the Competition Bureau of Canada for its acquisition of Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE). This marks a significant step in Rogers' plan to increase its participation in the sports and entertainment company. The acquisition, which is valued at CAD 4.7 billion, still requires the approval of sports leagues and the Canadian Radio-television and Telecommunications Commission (CRTC). According to Rogers CEO Tony Staffieri, this acquisition aligns with Rogers' business strategy centered on sports and live entertainment as core aspects of their communications and entertainment offerings.
Sectors
- Telecommunications
- Sports and Entertainment
Geography
- Canada – The transaction involves Canadian companies and regulatory bodies such as the Competition Bureau and CRTC are mentioned.
Industry
- Telecommunications – This industry is relevant as Rogers Communications is a major telecommunications company involved in the acquisition.
- Sports and Entertainment – MLSE operates within this sector, and the transaction relates to a significant shift in the ownership structure of a premier sports and entertainment company.
Financials
- CAD 4.7 billion – The acquisition price for Bell's 37.5% stake in MLSE by Rogers Communications.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Rogers Communications | Bidding Company | Company | A leading Canadian telecommunications and media company, acquiring a stake in MLSE. |
| Bell | Selling Company | Company | A Canadian telecommunications and media company selling its stake in MLSE to Rogers. |
| Maple Leaf Sports & Entertainment (MLSE) | Target company | Company | A prominent Canadian sports and entertainment company whose stake is being acquired. |
| Tony Staffieri | CEO of Rogers | Person | Key spokesperson for the acquisition from Rogers Communications. |
| Competition Bureau of Canada | Regulatory Approver | Government | The governmental body providing competition-related approvals for mergers and acquisitions. |
| CRTC | Regulatory Approver | Government | Canadian Radio-television and Telecommunications Commission, which must approve the acquisition. |