Rogers Buys Remaining MLSE Stake for $3.1 Billion

Rogers Communications Inc. is buying out the final portion of Maple Leaf Sports and Entertainment from Larry Tanenbaum's Kilmer Sports.

The deal values MLSE, which owns the NHL's Maple Leafs and NBA's Raptors, at a significant premium and consolidates control under the telecom giant.

Rogers plans to eventually sell a minority stake in the business.

The acquisition underscores the increasing value of live sports rights and content for telecom and media companies.