Rogers Completes C$4.35 Billion Purchase of MLSE Stake

Rogers Communications has completed its C$4.35-billion purchase of Kilmer Sports’ remaining 25 per cent stake in Maple Leaf Sports & Entertainment, giving Rogers full ownership of the sports and entertainment company, according to Rogers. The acquisition was announced as completed on October 1, bringing Rogers’ MLSE stake to 100 per cent. MLSE owns the Toronto Maple Leafs, Toronto Raptors, Toronto FC and Toronto Argonauts, as well as Scotiabank Arena. Its portfolio also includes affiliated development teams and a partnership with Live Nation. The transaction places those properties under the same ownership as Rogers’ existing sports and media assets, including the Toronto Blue Jays, Rogers Centre and Sportsnet. Rogers said it plans to bring its sports, media and entertainment operations together in a new business unit called Rogers Sports. The company has not detailed the unit’s full operating structure. Reporting on the announcement said operations would continue as usual in the interim. The company’s announced executive arrangements keep Keith Pelley as MLSE president and chief executive, with added responsibilities for Rogers Media.