BCE Inc. has reached a deal to sell its 37.5 per cent interest in Maple Leaf Sports & Entertainment to Rogers Communications Inc. for $4.7 billion, giving Rogers a majority stake in Canada’s most valuable sports empire and advancing executive chairman Edward Rogers’ standing as one of the country’s most powerful sports industry executives.
The deal values MLSE at $12.5 billion and will come as a shock to Bay Street analysts who have speculated in recent years that neither telecom company would allow its rival to control the sports conglomerate.
As part of the sale, Bell Media has secured access to content rights for the Toronto Maple Leafs and Toronto Raptors on TSN for the next 20 years through a long-term agreement with Rogers, also subject to league approvals. TSN will continue to broadcast Toronto Argonauts and Toronto FC games through independent agreements with the respective leagues.
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