Rogers Provides Update on Its Acquisition of Bell鈥檚 37.5% Stake in MLSE
Rogers Communications has received clearance from the Competition Bureau to proceed with its acquisition of Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. The Competition Bureau issued a 'no-action letter' on December 12, 2024, indicating it won't challenge the acquisition. The deal still requires league approvals and CRTC approval. Upon completion, Rogers will become the majority owner of MLSE, which is described as one of the most prestigious sports and entertainment organizations globally. The acquisition aligns with Rogers' core business strategy focusing on live sports and entertainment.
Rogers Communications ha ricevuto il nulla osta dal Bureau della Concorrenza per procedere con l'acquisizione della partecipazione del 37,5% di Bell in Maple Leaf Sports & Entertainment (MLSE) per 4,7 miliardi di dollari canadesi. Il Bureau della Concorrenza ha emesso una 'lettera di non azione' il 12 dicembre 2024, indicando che non opporr脿 resistenza all'acquisizione. L'accordo necessita ancora delle approvazioni delle leghe e dell'approvazione del CRTC. Una volta completato, Rogers diventer脿 il proprietario di maggioranza di MLSE, che 猫 descritta come una delle organizzazioni di sport e intrattenimento pi霉 prestigiose a livello globale. L'acquisizione 猫 in linea con la strategia aziendale principale di Rogers, focalizzata su eventi sportivi e di intrattenimento dal vivo.
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Rogers Communications a obtenu l'autorisation du Bureau de la concurrence pour proc茅der 脿 l'acquisition de la participation de 37,5 % de Bell dans Maple Leaf Sports & Entertainment (MLSE) pour 4,7 milliards de dollars canadiens. Le Bureau de la concurrence a 茅mis une 'lettre de non-action' le 12 d茅cembre 2024, indiquant qu'il ne contestera pas l'acquisition. L'accord n茅cessite encore des approbations de la part des ligues et l'approbation du CRTC. Une fois compl茅t茅, Rogers deviendra le propri茅taire majoritaire de MLSE, qui est d茅crite comme l'une des organisations de sport et de divertissement les plus prestigieuses au monde. L'acquisition s'aligne sur la strat茅gie commerciale de base de Rogers, ax茅e sur le sport et le divertissement en direct.
Rogers Communications hat die Genehmigung des Wettbewerbsb眉ros erhalten, um die 37,5%-Beteiligung von Bell an Maple Leaf Sports & Entertainment (MLSE) f眉r 4,7 Milliarden kanadische Dollar zu erwerben. Das Wettbewerbsb眉ro gab am 12. Dezember 2024 ein 鈥歂o-Action-Schreiben鈥� heraus und gab an, dass es den Erwerb nicht anfechten wird. Der Deal ben枚tigt noch die Genehmigungen der Ligen und die Genehmigung der CRTC. Nach Abschluss wird Rogers Mehrheitseigent眉mer von MLSE, die als eine der renommiertesten Sport- und Unterhaltungsorganisationen weltweit beschrieben wird. Die Akquisition steht im Einklang mit Rogers' zentraler Gesch盲ftsstrategie, die sich auf Live-Sport und Unterhaltung konzentriert.
- Received Competition Bureau clearance for MLSE stake acquisition
- Will become majority owner of prestigious sports organization
- Strategic alignment with core business in sports and entertainment
- Expansion of sports and entertainment portfolio
- Significant capital expenditure of C$4.7 billion required
- Deal still subject to multiple regulatory approvals
- Potential regulatory risks from CRTC and league approvals pending
Insights
TORONTO, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Rogers Communications聽(TSX: RCI.A and RCI.B) (NYSE: RCI)聽today announced it has received clearance from the Competition Bureau to proceed with the acquisition of Bell鈥檚
Rogers and Bell received a聽"no-action letter"聽on December 12, 2024, from the Bureau, indicating that the Commissioner of Competition does not intend to challenge Rogers acquisition of Bell鈥檚 interest in MLSE.
The deal is subject to league approvals and approval from the CRTC.
鈥淭his reflects an important step in securing approvals and expanding our ownership of MLSE, one of the most prestigious sports and entertainment organizations聽in the world,鈥� said Tony Staffieri, President and CEO, Rogers. 鈥淎s Canada鈥檚 leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.鈥�
In September, Rogers announced a deal to acquire Bell鈥檚 stake in MLSE for C
About Rogers Communications Inc
Rogers is Canada鈥檚 leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit聽听辞谤听.
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FAQ
How much is Rogers paying for Bell's stake in MLSE?
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When did Rogers receive Competition Bureau clearance for the MLSE deal?
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