Rogers completes $4.35-billion buyout of remaining MLSE stake from Kilmer

Rogers Communications has closed its purchase of the final quarter of Maple Leaf Sports & Entertainment, paying Kilmer Sports Inc. C$4.35 billion for the stake held by Larry Tanenbaum’s group and lifting Rogers’ ownership of MLSE to 100%.

In an Oct. 1 company release, Rogers said the deal consolidates the Toronto Maple Leafs, Raptors, Toronto FC, Argonauts, Scotiabank Arena and Live Nation partnership under a single owner alongside the Blue Jays, Rogers Centre and Sportsnet. CEO Tony Staffieri framed full ownership as a way to “invest to build championship-calibre teams” and deepen customer offers; Edward Rogers called the clubs “part of the fabric of our communities and our country.” Rogers will create a Rogers Sports unit bundling MLSE with the Blue Jays and media assets; until that operating model is set, Keith Pelley remains MLSE president and CEO and immediately takes added accountability for Rogers Media, while Mark Shapiro stays Blue Jays president and CEO.

The Globe and Mail noted Rogers already bought BCE’s 37.5% for about $4.7 billion in 2025, and that the Kilmer price implies a valuation more than one-third higher than last year’s Bell exit. When the Kilmer agreement was signed in July, Rogers said it still plans to sell a minority stake in the combined sports, media and entertainment assets — then valued at more than $25 billion — over the following year, subject to league approvals that have now cleared for this closing.

Sources: Rogers — MLSE acquisition complete; The Globe and Mail; Rogers — July Kilmer agreement.