Broadcaster acquires Score Media for $170 mil
MONTREAL — Canuck broadcaster Rogers Media’s C$167 million ($170 million) acquisition of Score Media was approved by Score shareholders on Monday.
Company owns and operates the Score Television Network, the country’s third-largest sports channel after Bell’s top-rated TSN and Rogers’ Sportsnet, giving Rogers a major boost in sports TV.
The deal does not include Score Media’s digital division, responsible for some of the most used sports services on iPhones and Blackberrys. However, Toronto-based Rogers will take a 10% stake.
“We are delighted our shareholders share the view of the executive team and the board of directors that this agreement with Rogers Media is in the best interests of all parties,” said Score Media founder and CEO John Levy.
The deal is expected to be rubberstamped by the Ontario Superior Court of Justice this week and then approved by broadcast regulator the Canadian Radio-Television and Telecommunications Commission.
This deal comes shortly after Bell and Rogers inked to buy Maple Leaf Sports and Entertainment, which owns the Toronto Maple Leafs hockey team and the Toronto Raptors basketball team. Bell and Rogers now hold dominant positions in the Canuck sports biz.