TORONTO, Aug. 22, 2012 /CNW/ – Rogers Communications announced today
that it, along with Bell Canada, completed the joint acquisition of a
net 75 per cent stake in Maple Leaf Sports & Entertainment (MLSE). The
investment advances Rogers’ strategy to deliver highly sought- after
sports content to Canadians anywhere, anytime, on any platform through
its best-in-class networks and robust portfolio of media assets.
“MLSE is truly a world-class organization offering some of the richest
and most sought-after content in professional sports,” said Nadir
Mohamed, President and Chief Executive Officer, Rogers Communications.
“This investment fits squarely into our strategy of cost-effectively
securing premium content and making it accessible to sports fans
wherever, whenever they want. We look forward to working with MLSE to
create highly interactive and engaging experiences for hockey,
basketball and soccer fans.”
Rogers and Bell Canada have formed a holding company to govern their
combined net 75 per cent stake in MLSE. Kilmer Sports Inc. (KSI) has
increased its 20.5 per cent ownership stake in MLSE to 25 per cent. KSI
is owned by Larry Tanenbaum, who continues to serve as Chair of MLSE
and as a Governor of the National Hockey League, the National
Basketball Association and Major League Soccer. Rogers’ net cash
investment in the transaction totals approximately $533 million.
“We’re passionate about sports and this investment further strengthens
our sports leadership while substantially bolstering Sportsnet,” said
Mohamed. “We’re committed to making Sportsnet the number one sports
media brand in Canada and we will compete feverishly to achieve this
goal.”
Rogers is the leading destination for premium sports content in Canada
with an unparalleled portfolio of sports assets: Toronto Blue Jays and
their home at Rogers Centre, a strategic alliance with the Vancouver
Canucks including naming rights for Rogers Arena, and long-term media
agreements with the Edmonton Oilers, Calgary Flames, Ottawa Senators,
MLB, NFL, NBA, MLS, CHL, NCAA, Rogers Cup, international soccer,
tennis, and UFC. Powered by the combination of leading-edge LTE
wireless and DOCSIS 3.0 broadband networks, live streaming, Rogers On
Demand, and Rogers Anyplace TV applications, Rogers brings Canadians
the best sports content on their platform of choice.
Caution Regarding Forward-Looking Statements, Risks and Assumptions
This press release includes forward-looking statements and assumptions
concerning our business and its operations approved by management on
the date of this press release. These forward-looking statements and
assumptions include, but are not limited to, statements with respect to
our objectives and strategies to achieve those objectives, statements
with respect to our beliefs, plans, expectations, anticipations,
estimates or intentions, including costs and benefits of the above
mentioned MLSE transaction and all other statements that are not
historical facts. We caution that all forward-looking information,
including any statement regarding our current intentions, is inherently
subject to change and uncertainty and that actual results may differ
materially from the assumptions, estimates or expectations reflected in
the forward-looking information. A number of factors could cause actual
results to differ materially from those in the forward-looking
statements or could cause our current objectives and strategies to
change. Therefore, should one or more of these risks materialize,
should our objectives or strategies change, or should any other factors
underlying the forward-looking statements prove incorrect, actual
results and our plans may vary significantly from what we currently
foresee. Accordingly, we warn investors to exercise caution when
considering any such forward-looking information herein and that it
would be unreasonable to rely on such statements as creating any legal
rights regarding our future results or plans. We are under no
obligation (and we expressly disclaim any such obligation) to update or
alter any forward-looking statements or assumptions whether as a result
of new information, future events or otherwise, except as required by
law.
About Rogers Communications
Rogers is a diversified public Canadian communications and media
company. We are Canada’s largest provider of wireless voice and data
communications services and one of Canada’s leading providers of cable
television, high speed internet and telephony services. Through Rogers
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 visit www.rogers.com.
SOURCE: Rogers Communications Inc.