Allsports article on Bell and Rogers joining forces to purchase MLSE for the Ontario Teachers Pension Plan for a whopping $1.32 billion. Is it good for the fans?
So it is official, Canada’s two biggest electronic media giants have joined up to purchase the 79.5% majority stake in the parent company of the Toronto Maple Leafs, Raptors, ACC and more from the Ontario Teachers Pension Plan. Big news for sports news and sports on the web and even bigger dollars in the bank roll it took to make the deal. The teachers cashed out for a whopping 1.32 billion dollars, which is based on the enterprise value of just over 2 billion. Remember way back in March when I wrote an article that was a little tongue and cheek about buying the Maple Leafs that was titled “How would you like to own the Toronto Maple Leafs“. Well the teachers finally let the money talk and the sale has come to fruition.
BCE, the parent company of Bell and Rogers Communication, the two major media giants in Canada formed a partnership for the purchase. Strange bedfellows to be sure because they are in direct competition with each other for the public’s hard earned money in the electronic entertainment industry.
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