Rogers Communications is buying out the final portion of Maple Leaf Sports and Entertainment from Kilmer Sports for 4.35 billion Canadian dollars ($3.06 billion), giving the telco total control of one of Canada’s most lucrative sports businesses.
The transaction, which is expected to close in the fourth quarter of the year, consolidates full ownership of the Toronto Maple Leafs, Toronto Raptors, Toronto FC and the Scotiabank Arena under Rogers.
Until recently, MLSE was jointly owned by Canada’s two biggest rival telecom companies, Rogers and BCE, alongside Kilmer Sports, belonging to Canadian billionaire businessman Larry Tanenbaum.
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