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Jeremy 12-09-2011 12:34 AM

Maple Leafs, Toronto Raptors sold to Rogers and BCE
 
TORONTO - The Ontario Teachers Pension Plan is about to cash out its controlling stake of the Maple Leaf Sports and Entertainment empire -- selling to a pair of media giants.

Sources have told QMI Agency that a deal worth as much as $2 billion is close to being settled with telecommunications behemoths Bell Media and Rogers Communications, who have been rivals in the past for the much desired 79.5% shares of MLSE.


CANOE -- SLAM! Sports - Hockey NHL - Toronto - Sale of MLSE to Rogers, Bell is close

Windex 12-09-2011 12:42 AM

I guess that MLSE channel won't happen since these 2 hold the rights to all of their teams

Jeremy 12-09-2011 12:51 AM

So who would be the majority owner?

Psi 12-09-2011 12:57 AM

Quote:

Originally Posted by Jeremy (Post 585009)
So who would be the majority owner?

Bell and Rogers represent TSN and Sportsnet, the No. 1 and 2 sports broadcasting powers in Canada, but they will call a truce and split the shares with so many lucrative deals to be spun off their union.


Both of them.
Seem like they're going to play fair.
But I see one of them buying out someone else ASAP to get control lol
Oh I guess it's just LT with the remaining 20.5%.
They may actually be friends for a while lol.

Jeremy 12-09-2011 12:58 AM

Is Larry Tanenbaum looking to divest his 20.5% share?

Windex 12-09-2011 01:01 AM

Quote:

Originally Posted by Psi (Post 585012)
Bell and Rogers represent TSN and Sportsnet, the No. 1 and 2 sports broadcasting powers in Canada, but they will call a truce and split the shares with so many lucrative deals to be spun off their union.


Both of them.
Seem like they're going to play fair.
But I see one of them buying out someone else ASAP to get control lol

Tanenbaum owns the rest of the shares

LX 12-09-2011 07:26 AM

YES!



Quote:

Originally Posted by Jeremy (Post 585015)
Is Larry Tanenbaum looking to divest his 20.5% share?

CP24 - owned by Bell - reports that he is good with this deal and is not looking to exercise his right of refusal, which is the main thing.

Bankiz 12-09-2011 07:41 AM

that seems a good thing !

would the 3 new owners want to put money to make all these teams some winning's team ?

ValanciunasFanboy 12-09-2011 08:11 AM

Quote:

Originally Posted by Bankiz (Post 585066)
that seems a good thing !

would the 3 new owners want to put money to make all these teams some winning's team ?

it would make sense, a broadcaster should care about winning much more. Bad teams can still make profit, especially if arena deal is good. But bad teams won't attract big TV crowds.

jeffb 12-09-2011 09:02 AM

BELL & ROGERS are both buying MLSE???? :eek:

Admiral 12-09-2011 09:11 AM

could be a good thing when it comes to games on tv

jeffb 12-09-2011 10:13 AM

Breakdown of who owns what:

Rogers- 37.5%
Bell- 37.5%
Tanenbaum- 25%

Shadowfax 12-09-2011 10:14 AM

Maple Leafs, Toronto Raptors sold to Rogers and BCE
 
Maple Leafs, Toronto Raptors sold to Rogers and BCE

Link


Two telecommunications giants will soon control the Toronto Maple Leafs, the biggest prize in Canadian sport.

The Ontario Teachers’ Pension Plan will announce Friday that it has reached a draft agreement to sell its 79.53 per cent stake in Maple Leaf Sports and Entertainment, owners of the iconic Leafs, to Rogers Communications and BCE for more than $1.2 billion.

The companies have scheduled a morning news conference at the Air Canada Centre, the downtown home of the Leafs, to confirm the blockbuster deal.

Reports surfaced two weeks ago that Rogers and BCE had been working on an alliance to share control of MLSE, which also owns other sports properties and lucrative broadcast interests.

At that time, Teachers, one of the country's biggest pension plans with assets of more than $107.5 billion, indicated it was pulling its stake off the market after an extensive search that formally started earlier this year. Teachers' noted that several parties had made offers.

The Star reported a year ago that Teachers had been quietly talking to possible suitors including Rogers about selling its stake. Teachers' played down the story but four months later announced that it would formally explore a sale.

MLSE also owns the Raptors of the NBA, Toronto FC of Major League Soccer, the Marlies of the American Hockey League, the Air Canada Centre,two speciality television channels and Maple Leaf Square, a condominium development adjacent to the arena.

Friday's agreement contemplates that Larry Tannenbaum whose firm Kilmer Sports own the reamining 21.47 of MLSE will stay as a shareholder and chairman of the company. He may also increase his stake or get some cash as part of the deal, according to reports.

There were provisions in the existing shareholders agreement that gave Tannenbaum key rights that would make it difficult for any owner with telecommunications properties to take advantage of MLSE's rich broadcast assets without his approval.[/quote]

jeffb 12-09-2011 10:20 AM

Lol

Another one?

'trane 12-09-2011 10:23 AM

so much for 'we're not selling'...

DanH 12-09-2011 10:24 AM

Quote:

Originally Posted by jeffb (Post 585123)
Breakdown of who owns what:

Rogers- 37.5%
Bell- 37.5%
Tanenbaum- 25%

So basically:

In the interest of making a more competitive team to up the TV ratings - at least 75% of the ownership votes yes. That's good.

In anything the two corporations butt heads on, Tanenbaum makes the call. Also good - he's been decent as a chairman, and with more of a push for success from the majority ownership, we should see some good things.

DanH 12-09-2011 10:25 AM

Quote:

Originally Posted by 'trane (Post 585130)
so much for 'we're not selling'...

Ha. Yep.

Admiral 12-09-2011 10:34 AM

Quote:

Originally Posted by DanH (Post 585134)
Ha. Yep.

they probably just didn't want that american company buying them so they said the team is "off" the market

as well, maybe this was in the works for a while and they used the "off the market" to keep it on the down low.

fancylad 12-09-2011 10:35 AM

so it's official?!

[rick james] It's a CELEBRATION [/rick james]

jeffb 12-09-2011 10:38 AM

Purchase price- 1.32 Billion

Rogers-553Mil
Bell- 553Mil
Larry- 200ish Mil (to aquire his additional 5%)


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