TORONTO, May 2, 2012 /CNW/ – The Competition Bureau confirmed today that
it does not plan to challenge Rogers’ acquisition of an ownership
position in Maple Leaf Sports and Entertainment (MLSE). The
Competition Bureau noted that it has one year following completion of
such transactions during which it can bring the matter before the
MLSE is Canada’s largest sports and entertainment company, delivering
top quality sports and entertainment experiences to fans. MLSE owns and
operates the Air Canada Centre, the Toronto Maple Leafs, the Toronto
Raptors, the Toronto FC and the Toronto Marlies. Rogers announced on
December 9, 2011 that it, along with Bell Canada, is jointly acquiring
a net 75 per cent stake in MLSE from the Ontario Teachers’ Pension
Plan. Rogers’ net cash commitment, following a planned leveraged
recapitalization of MLSE, will total approximately $533 million,
representing a 37.5 percent equity interest in MLSE.
The investment advances Rogers’ strategy to deliver highly sought- after
content anywhere, anytime, on any platform across its broadband and
wireless networks and its media assets, while strengthening the value
of its sports brand, Sportsnet. The acquisition secures long-term
access to TV, mobile, digital online and radio broadcast rights for
both Rogers and Bell to MLSE’s sports teams.
The transaction is expected to close in mid-2012 following Canadian
Radio-television and Telecommunications Commission (CRTC) and sports
About the Company:
Rogers Communications is a diversified Canadian communications and media
company. We are engaged in wireless voice and data communications
services through Wireless, Canada’s largest wireless provider. Through
Cable, we are one of Canada’s leading providers of cable television
services as well as high-speed Internet access and telephony services.
Through Media, we are engaged in radio and television broadcasting,
televised shopping, magazines and trade publications, and sports
entertainment. We are publicly traded on the Toronto Stock Exchange
(TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI).
For further information about the Rogers group of companies, please