TORONTO, Aug. 22, 2012 /PRNewswire/ - 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.