Rogers Receives League Approvals on MLSE Acquisition

Rhea-AI Summary

Rogers Communications (NYSE: RCI) has secured all major league approvals to acquire Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. The approvals from NHL, NBA, CFL, MLS, and AHL will allow Rogers to become a 75% owner of MLSE. The deal, announced in September 2024, has already received Competition Bureau clearance and now only awaits CRTC approval for acquiring an additional indirect interest in Toronto Raptors Network Ltd. CEO Tony Staffieri emphasized that live sports and entertainment are crucial to Rogers' core business strategy as Canada's leading communications company.

Positive

• Acquisition of 37.5% stake will make Rogers the majority owner (75%) of prestigious MLSE portfolio
• Strategic expansion into live sports and entertainment strengthens Rogers' core business
• Major regulatory hurdles cleared with Competition Bureau approval and all league approvals secured
• Acquisition provides control over valuable sports franchises and entertainment assets

Negative

• Significant capital expenditure of C$4.7 billion required for the acquisition
• Still pending CRTC approval for Toronto Raptors Network Ltd portion
• Large investment may impact company's financial flexibility and leverage

TORONTO, June 04, 2025 (GLOBE NEWSWIRE) -- Rogers Communications (TSX: RCI.A and RCI.B) (NYSE: RCI) today announced it has received all league approvals to buy out Bell’s 37.5% stake in Maple Leaf Sports & Entertainment (MLSE). 
  
“We’re pleased to have league approvals to expand our ownership of MLSE, one of the most prestigious sports and entertainment organizations in the world,” said Tony Staffieri, President and CEO, Rogers. “As Canada’s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.” 

Rogers has received approvals from the National Hockey League (NHL), National Basketball Association (NBA), Canadian Football League (CFL), Major League Soccer (MLS), and the American Hockey League (AHL) to become 75% owners of MLSE. 
  
The deal is subject to approval from the CRTC to acquire an additional indirect interest in Toronto Raptors Network Ltd (NBA TV Canada), representing a very small portion of the transaction. Rogers has previously received clearance from the Competition Bureau to proceed with the acquisition. 

In September 2024, Rogers announced a deal to acquire Bell’s stake in MLSE for C$4.7 billion to become majority owner of MLSE. 

About Rogers Communications Inc.
Rogers is Canada’s leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or investors.rogers.com.

For further information:

Media Relations
media@rci.rogers.com
1-844-226-1338

Investor Relations
investor.relations@rci.rogers.com
1-844-801-4792

FAQ

How much is Rogers paying for Bell's stake in MLSE?

Rogers is paying C$4.7 billion to acquire Bell's 37.5% stake in MLSE.

What percentage of MLSE will Rogers own after the acquisition?

After the acquisition, Rogers will own 75% of Maple Leaf Sports & Entertainment (MLSE).

Which league approvals has Rogers (RCI) received for the MLSE acquisition?

Rogers has received approvals from the NHL, NBA, CFL, MLS, and AHL for the MLSE acquisition.

What regulatory approvals are still pending for Rogers' MLSE acquisition?

The only remaining approval needed is from the CRTC regarding the additional indirect interest in Toronto Raptors Network Ltd.

When did Rogers announce the MLSE stake acquisition from Bell?

Rogers announced the deal to acquire Bell's stake in MLSE in September 2024.