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Rogers Communications Inc., already reaping benefits from its recently completed acquisition of a majority stake in Maple Leaf Sports & Entertainment Ltd. (MLSE), plans to assume full ownership of the company that controls the Toronto Maple Leafs, Toronto Raptors and other teams.
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Rogers executives told analysts on Thursday that the company plans to acquire the remaining 25 per cent minority interest in MLSE within the next 18 months or so.
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MLSE chair Larry Tanenbaum, through his holding company Kilmer Sports Inc., owns 20 per cent of the remaining shares, having sold the other five per cent to OMERS in Nov. 2023 to finance the purchase of a WNBA franchise.
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“What we’re focused on is, first, acquiring the remaining 25 per cent minority stake, combining the operations and then proceeding with recapitalizing the combined Roger Sports & Media, including MLSE and Blue Jays entity,” chief financial officer Glenn Brandt said during the company’s third-quarter earnings call.
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The telecommunications giant acquired the 37.5 per cent stake of MLSE held by its rival BCE Inc. earlier this year, making it the majority shareholder of the organization, with 75 per cent ownership.
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Rogers has since had a boost in revenue thanks to a strong Toronto Blue Jays’ regular season and consolidation of MLSE results, it said. The success of the baseball franchise drove higher attendance and game-day revenues, resulting in 26 per cent growth in its media revenue for the third quarter of 2025.
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The company also expects the Blue Jays’ successful run in the MLB postseason and its upcoming World Series games against the L.A. Dodgers to provide further growth in its fourth quarter, bringing additional value to its sports and media assets.
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“It’s been quite a week for our Toronto Blue Jays, American League champions,” chief executive Tony Staffieri said during the call.
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