Rogers Communications Inc. (TSX:RCI.B) entered into an agreement to acquire an additional 37.5% stake in Maple Leaf Sports & Entertainment Ltd. from BCE Inc. (TSX:BCE) for CAD 4.7 billion on September 18, 2024. This includes access to content rights for 50% of Toronto Maple Leafs regional games and 50% of Toronto Raptors games for which MLSE controls the rights. The consideration is subject to certain adjustments. Bell remains official telecom sponsor of the Toronto Raptors and continues sponsorships of Toronto Argonauts and Toronto FC.
The deal is subject to league approvals, approval from the Canadian Radio-television and Telecommunications Commission and approval from Competition Bureau. Rogers and Bell received a "no-action letter" on December 12, 2024, from the Bureau, indicating that the Commissioner of Competition does not intend to challenge Rogers acquisition of Bell?s interest in MLSE. As of December 13, 2024, Rogers Communications has received clearance from the Competition Bureau to proceed with the acquisition. As of June 12, 2025 Rogers received approval from the Canadian Radio-television and Telecommunications Commission and deal is expected to close in early July. The transaction is expected to close in mid-2025. BCE currently intends to direct proceeds of this sale towards reducing debt levels and to support its ongoing transformation from telco to telco with a focus on core growth drivers. As of June 4, 2025, Rogers Communications has received all league approvals to buy out Bell?s 37.5% stake in Maple Leaf Sports & Entertainment.
In February 2025, we issued three tranches of subordinated notes, consisting of, CAD 1.5 billion due 2055 with an initial coupon of 7.00% for the first five years, CAD 1.4 billion due 2055 with an initial coupon of 7.125% for the first ten years; and CAD 2 billion due 2055 with an initial coupon of 5.625% for the first five years. Rogers Communications received net proceeds of CAD approximately 5 billion from the issuances and intend to use the proceeds to repay debt and to fund a portion of the MLSE Transaction.
J.P. Morgan acted as financial advisor to Rogers Communications Inc. Shlomi Feiner, Jacob Gofman, Micah Wood, Jonathan Bitran, Paul Stepak, Evan Schmid and Michael Matheson of Blake, Cassels & Graydon LLP acted as legal advisor to BCE Inc. Melanie Shishler, Aaron Atkinson, Marc Pontone, David Wilson, Daniel Pearlman and Anita Banicevic of Davies Ward Phillips & Vineberg LLP acted as legal advisor to Rogers Communications Inc.
Rogers Communications Inc. (TSX:RCI.B) completed the acquisition of an additional 37.5% stake in Maple Leaf Sports & Entertainment Ltd. from BCE Inc. (TSX:BCE) on July 1, 2025. On completion, Rogers holds 75% stake in Maple Leaf Sports & Entertainment. The purchase price was primarily funded from revolving bank credit facilities together with cash on hand. The transaction has received all necessary regulatory and league approvals.
Rogers Communications Inc. is a diversified Canadian communications and media company. The Company operates in three segments: Wireless, Cable, and Media. The wireless segment provides wireless telecommunications operations for Canadian consumers and businesses. The cable segment is engaged in cable telecommunications operations, including Internet, television, and other video, satellite, telephony, and smart home monitoring services for Canadian consumers and businesses, and network connectivity through its fiber network and data center assets to support a range of voice, data, networking, hosting, and cloud-based services for the business, public sector, and carrier wholesale markets. The media segment offers a diversified portfolio of media properties, including sports media and entertainment, television and radio broadcasting, specialty channels, multi-platform shopping, and digital media.
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Rogers Communications Inc. (TSX: RCI.B) completed the acquisition of an additional 37.5% stake in Maple Leaf Sports & Entertainment Ltd. from BCE Inc..
