Update: Bell, Rogers close Maple Leaf Sports & Entertainment deal
By Adnews Staff
Bell Canada and Rogers Communications have closed their transaction to jointly acquire a 75% ownership stake in Maple Leaf Sports & Entertainment from the Ontario Teachers' Pension Plan. The remaining 25% is owned by Kilmer Sports, which is run by Maple Leaf chair Larry Tanenbaum. "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. "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." "We're passionate about sports and this investment further strengthens our sports leadership while substantially bolstering Sportsnet," said Nadir Mohamed, president and CEO of Rogers Communications. "We’re committed to making Sportsnet the number one sports media brand in Canada and we will compete feverishly to achieve this goal."