Rogers clears final hurdle in purchase of Bell’s MLSE stake

Rogers Communications has cleared the last hurdle in its purchase of Bell’s stake in Maple Leafs Sports and Entertainment, and the transaction is expected to close next month.

The CRTC approved Rogers’ takeover of Bell’s NBA TV Canada assets on Thursday, Rogers announced. This comes after the boards for the NHL, NBA, MLS, CFL and AHL all approved the change in ownership on June 4.

“We’re pleased to receive all the necessary approvals to expand our ownership of MLSE. We look forward to closing this strategic deal in early July,” Tony Staffieri, president and CEO of Rogers, said in a statement. “MLSE is one of the most prestigious sports and entertainment organizations in the world, and live sports and entertainment are core to our business strategy.”

Rogers, which also owns Sportsnet, announced in September that it had agreed to purchase Bell’s stake in MLSE for $4.7 billion. The purchase would double Rogers’ stake in the company to 75 per cent, making the company the majority owner.

MLSE’s sports teams include the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts, Toronto FC and Toronto Marlies.