Rogers buying remaining stake in MLSE for $4.35B

Rogers Communications Inc. says it has signed a deal to buy the remaining 25 per cent stake in Maple Leaf Sports & Entertainment it does not already own from Kilmer Sports Inc. for $4.35 billion.

Rogers chief executive Tony Staffieri called it a defining moment for the company.

"It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders," Staffieri said in a press release.

MLSE owns the Toronto Maple Leafs hockey team, Toronto Raptors basketball team, Toronto FC soccer team and the Toronto Argonauts football team.

The transaction is subject to league approvals.

Rogers expects the deal to close in the fourth quarter of this year.

The company, which also owns the Toronto Blue Jays baseball team, has said it intends to sell a minority stake in the consolidated Rogers sports, media and entertainment assets over the course of the next year.