Rogers Expands Ownership with NBA TV Canada Approval
Rogers Expands Ownership with NBA TV Canada Approval
Rogers Communications is thrilled to announce that it has received the necessary go-ahead from the Canadian Radio-television and Telecommunications Commission (CRTC), allowing them to acquire Bell’s stake in Toronto Raptors Network Ltd, better known as NBA TV Canada. This strategic move underscores Rogers' commitment to enriching its sports offerings and enhancing customer engagement through live sports broadcasting.
Statement from Rogers' Leadership
Expressing enthusiasm about the acquisition, Tony Staffieri, President and CEO of Rogers, stated, "We’re pleased to receive all the necessary approvals to expand our ownership of MLSE. We look forward to closing this strategic deal in early July. MLSE is one of the most prestigious sports and entertainment organizations in the world, and live sports and entertainment are core to our business strategy." This reflects Rogers' dedication to being at the forefront of the entertainment landscape in Canada.
Prior Approvals and Acquisitions
Before bolstering their ownership further in MLSE, Rogers secured necessary approvals from various major leagues, including the National Hockey League (NHL) and the National Basketball Association (NBA). In their journey to becoming 75% owners of MLSE, Rogers also received clearance from the Competition Bureau, reinforcing their strategic position within the sports broadcasting arena. This series of endorsements highlights the company’s credibility and the trust established with these significant leagues.
Major Investment for Majority Ownership
Back in September 2024, Rogers discussed a monumental agreement to acquire Bell’s stake in MLSE for a striking C$4.7 billion. This move is pivotal as it positions Rogers as the predominant force in both the broadcasting and ownership of major sports teams in Canada, specifically the Toronto Raptors. This massive investment speaks volumes about Rogers’ long-term vision for intertwining sports with telecommunications services.
About Rogers Communications Inc.
Rogers Communications Inc. stands as Canada’s premier communication and entertainment company, publicly traded on both the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and the New York Stock Exchange (NYSE: RCI). The company is well-known for leveraging its telecommunications infrastructure to deliver cutting-edge entertainment and connectivity to millions of Canadians, enhancing their viewing experiences, especially around live sports.
Corporate Responsibility and Future Endeavors
As Rogers continues to expand its reach and capabilities, its commitment to corporate responsibility remains unwavering. The company aims to innovate while ensuring that all their offerings align with creating value for customers. With the integration of NBA TV Canada into their portfolio, Rogers is on a path that promises to elevate audiences' experiences across multiple platforms.
Contact Information
Media Relations:
For inquiries, the media team can be contacted at media@rci.rogers.com
Phone: 1-844-226-1338
Investor Relations:
Investors can reach out through investor.relations@rci.rogers.com
Phone: 1-844-801-4792
Frequently Asked Questions
What is the significance of the NBA TV Canada acquisition?
The acquisition allows Rogers to strengthen its sports broadcasting portfolio and enhance its audience engagement through live sports coverage.
Who is the CEO of Rogers Communications?
Tony Staffieri serves as the President and CEO of Rogers Communications, overseeing the company's strategic direction and growth opportunities.
How much did Rogers invest for majority ownership of MLSE?
Rogers announced an investment of C$4.7 billion to acquire Bell’s stake in MLSE, solidifying its position as a key player in Canadian sports.
What leagues have approved Rogers' acquisition?
Rogers received approvals from multiple leagues, including the NHL, NBA, CFL, MLS, and AHL, affirming its compliance and standing within the sports community.
Where can I find more information about Rogers Communications?
To learn more, visit rogers.com for company updates and investor relations info.
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