Rogers closes deal with BCE to become majority owner of Maple Leafs Sports & Entertainment

Rogers Communications Inc. has closed its deal to buy BCE Inc.'s 37.5 per cent stake in Maple Leaf Sports & Entertainment to become the majority owner of the company.

Rogers now holds a 75 per cent stake in the owner of the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts and Toronto FC.

The $4.7-billion deal closed effective Tuesday after receiving the necessary regulatory and league approvals.

The acquisition grows the company's sports portfolio which already included the Toronto Blue Jays, Rogers Centre and Sportsnet.

Earlier this year, Rogers signed a new 12-year, $11-billion agreement with the National Hockey League for the national media rights for NHL games through 2037-2038. The deal kicks in following the end of its current 12-year deal.

WATCH | The National discusses Rogers's acquisition of MLSE:

Rogers secures grip on Toronto pro sports with $4.7B MLSE buyout