Rogers Media gains full control of web
MONTREAL — Fox Sports Net Canada Holdings, an affiliate of Fox Cable Networks, sold its 20% stake in Canuck specialty channel Rogers Sportsnet to Rogers Media for C$45 million ($37 million) on Wednesday.
This gives Rogers Media, a division of Toronto-based broadcaster and cable op Rogers Communications, full control of Sportsnet.
Sportsnet operates regional channels — Sportsnet Pacific, West, Ontario and East — covering local sports events plus national programming. Sportsnet has 7.3 million subs in Canada and posts annual revs in excess of $82 million.
Sportsnet was launched in 1998 by Rogers, Canuck web CTV and Fox. In 2001, Rogers upped its ownership to 80% by acquiring CTV’s 40%.
Rogers Media also has 43 radio stations, Toronto multicultural TV channels Omni.1 and Omni.2, and the national Canadian Shopping Channel.