Exhibit 99.1
ROGERS TO BECOME MAJORITY OWNER OF MAPLE LEAF SPORTS & ENTERTAINMENT
Signs agreement to buy out Bells 37.5% ownership stake in MLSE
Will invest to bring championships to Canada
Sportsnet will continue to broadcast 50% of Maple Leafs regional games and 50% of Raptors games controlled by MLSE
Toronto, ON (September 18, 2024) Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) (Rogers) today announced it has signed an
agreement to buy Bells 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 were proud to expand our ownership of these coveted sports teams, said Tony Staffieri, President and CEO, Rogers. As Canadas leading communications and
entertainment company, live sports and entertainment are a critical part of our core business strategy.
Will continue to invest to bring
championships to Canada
Rogers has invested $14 billion in Canadian sports over the last decade. With this transaction, Rogers will continue
to invest to bring championships to Canada.
Winning is everything for fans, and thats why were committed to investing to bring more
championships to Canada, said Edward Rogers, Executive Chair, Rogers. Were passionate about sports and were passionate about winning.
Strategic investment will surface value long-term
Financing for this transaction will not affect Rogers debt leverage and financing will include private investors.
MLSE continues to appreciate significantly, and together with our sports and media assets, we plan to surface more value for shareholders
long-term, said Staffieri. This agreement also ensures long-term Canadian ownership and investment of these iconic teams.
Deepens
investment in Canadian sport
This agreement adds to Rogers existing sports portfolio including ownership of the Toronto Blue Jays, Rogers Centre
and Sportsnet, the number one sports network in Canada. The company also has strategic partnerships with the Vancouver Canucks, the Edmonton Oilers, the Calgary Flames and the NHL. When the transaction closes, Rogers will be the largest
owner of MLSE with a controlling Interest in 75% of MLSE.