08:37 AM EDT, 09/18/2024 (MT Newswires) -- Rogers Communications Inc. on Wednesday signed an agreement to buy Bell's 37.5% ownership stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion.

"MLSE is one of the most prestigious sports and entertainment organizations in the world and we're proud to expand our ownership of these coveted sports teams," said Tony Staffieri, President and CEO, Rogers.

According to a statement, Sportsnet will continue to broadcast 50% of Toronto Maple Leafs regional games in ice hockey and 50% of Toronto Raptors games in basketball controlled by MLSE.