Rogers to buy out rival's stake in MLSE, gaining 75% ownership [Wealth Professional (Canada)]
Rogers Communication, Inc. (RCI)
Last rogers communication, inc. earnings: 4/22 07:00 am
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Source: Wealth Professional
Rogers Communications Inc. is acquiring Bell's 37.5 percent share in Maple Leaf Sports & Entertainment (MLSE) for $4.7bn, as reported by BNN Bloomberg. This acquisition will give Rogers a 75 percent ownership stake in MLSE, which owns several prominent sports teams, including the NHL's Maple Leafs, the NBA's Raptors, the CFL's Argonauts, the MLS's Toronto FC, and the AHL's Marlies. Prior to this transaction, Rogers and Bell had equal ownership shares of MLSE. MLSE chair Larry Tanenbaum, through his holding company Kilmer Sports Inc., holds a 25 percent stake in MLSE. In 2023, OMERS, a Canadian pension fund , purchased a five percent indirect stake in MLSE by acquiring a 20 percent direct stake in Kilmer Sports for US$400m. “MLSE is one of the most prestigious sports and entertainment organizations in the world, and we're proud to expand our ownership of these coveted sports teams,” Rogers president and CEO Tony Staffieri said. He added that live sports and entertainment are c
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News
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- Rogers Communications Inc. (NYSE: RCI) had its price target raised by analysts at TD Securities from $73.00 to $74.00. They now have a "buy" rating on the stock.MarketBeat
- Rogers Communications Inc. (NYSE: RCI) had its price target raised by analysts at BMO Capital Markets from $67.00 to $70.00. They now have an "outperform" rating on the stock.MarketBeat
RCI
Earnings
- 7/24/24 - Beat
RCI
Sec Filings
- 9/18/24 - Form 6-K
- 7/24/24 - Form 6-K
- 7/24/24 - Form 6-K
- RCI's page on the SEC website