Leafs for sale (cont'd).....
- Thread starter LittleHockeyFan
- Start date
This may be much the same article, but it was just posted now on the Sun website.
TORONTO - The Ontario Teachers Pension Plan is about to cash out its controlling stake of the Maple Leaf Sports and Entertainment empire -- selling to a pair of media giants.
Sources have told QMI Agency that a deal worth as much as $2 billion is close to being settled with telecommunications behemoths Bell Media and Rogers Communications, who have been rivals in the past for the much desired 79.5% shares of MLSE.
Bell and Rogers represent TSN and Sportsnet, the No. 1 and 2 sports broadcasting powers in Canada, but they will call a truce and split the shares with so many lucrative deals to be spun off their union.
An announcement could come as early as Friday, but there are many moving pieces that could delay the final sale until closer to Christmas. MLSE runs the Toronto Maple Leafs, Toronto Raptors, Toronto FC, the Air Canada Centre and has high profile real estate holdings. They also own LeafsTV, as well as basketball and soccer television holdings. Rogers, meanwhile, owns the Toronto Blue Jays, making the baseball team an obvious addition to the new combined network./i]
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TORONTO - The Ontario Teachers Pension Plan is about to cash out its controlling stake of the Maple Leaf Sports and Entertainment empire -- selling to a pair of media giants.
Sources have told QMI Agency that a deal worth as much as $2 billion is close to being settled with telecommunications behemoths Bell Media and Rogers Communications, who have been rivals in the past for the much desired 79.5% shares of MLSE.
Bell and Rogers represent TSN and Sportsnet, the No. 1 and 2 sports broadcasting powers in Canada, but they will call a truce and split the shares with so many lucrative deals to be spun off their union.
An announcement could come as early as Friday, but there are many moving pieces that could delay the final sale until closer to Christmas. MLSE runs the Toronto Maple Leafs, Toronto Raptors, Toronto FC, the Air Canada Centre and has high profile real estate holdings. They also own LeafsTV, as well as basketball and soccer television holdings. Rogers, meanwhile, owns the Toronto Blue Jays, making the baseball team an obvious addition to the new combined network./i]
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Globe & Mail: Rogers, BCE on verge of deal for MLSE
The deal has not been finalized and still may fall apart, but the companies were in talks late Thursday night, and sources close to the situation said most of the key details had been worked out.
In particular, Rogers and BCE have won the support of minority owner Larry Tanenbaum, who owns 20 per cent of MLSE and has right of first refusal on any offer. His support clears a major hurdle for any deal.
If finalized, the sale would be one of the richest sales of sports assets in North America. In addition to the Leafs and Raptors, MLSE also owns the Toronto FC soccer club, as well as broadcast properties such as Leafs TV and Raptors TV.
The deal gives MLSE an equity value of roughly $1.66-billion, not including debt. Of that, Rogers and BCE are said to be paying about $1.33-billion for roughly an 80-per-cent stake.
At that price, MLSE has a total enterprise value of $2.1-billion, including debt
....
Mr. Tanenbaum?s support of Rogers and BCE as majority owners is key because the companies are buying the assets in order to gain greater control over the broadcast rights of Leafs and Raptors games, which they want to show on their respective networks. BCE owns TSN and Rogers owns Sportsnet.
In addition to TV, the companies also want to stream that content over their wireless networks, though cellphones and tablet computers.
However, the previous shareholders agreement dictated that all broadcast rights must be put out to auction. Mr. Tanenbaum, as a 20-per-cent owner, could have prevented Rogers and Bell from having control over those rights.
For his support of the Rogers and BCE bid, sources indicate Mr. Tanenbaum will have his ownership stake sweetened, but it is not clear if that will be a direct cash payment or if he will receive a slightly larger share beyond 20 per cent.
Second source. Sounds legit but the deal is not closed.
The deal has not been finalized and still may fall apart, but the companies were in talks late Thursday night, and sources close to the situation said most of the key details had been worked out.
In particular, Rogers and BCE have won the support of minority owner Larry Tanenbaum, who owns 20 per cent of MLSE and has right of first refusal on any offer. His support clears a major hurdle for any deal.
If finalized, the sale would be one of the richest sales of sports assets in North America. In addition to the Leafs and Raptors, MLSE also owns the Toronto FC soccer club, as well as broadcast properties such as Leafs TV and Raptors TV.
The deal gives MLSE an equity value of roughly $1.66-billion, not including debt. Of that, Rogers and BCE are said to be paying about $1.33-billion for roughly an 80-per-cent stake.
At that price, MLSE has a total enterprise value of $2.1-billion, including debt
....
Mr. Tanenbaum?s support of Rogers and BCE as majority owners is key because the companies are buying the assets in order to gain greater control over the broadcast rights of Leafs and Raptors games, which they want to show on their respective networks. BCE owns TSN and Rogers owns Sportsnet.
In addition to TV, the companies also want to stream that content over their wireless networks, though cellphones and tablet computers.
However, the previous shareholders agreement dictated that all broadcast rights must be put out to auction. Mr. Tanenbaum, as a 20-per-cent owner, could have prevented Rogers and Bell from having control over those rights.
For his support of the Rogers and BCE bid, sources indicate Mr. Tanenbaum will have his ownership stake sweetened, but it is not clear if that will be a direct cash payment or if he will receive a slightly larger share beyond 20 per cent.
Second source. Sounds legit but the deal is not closed.
Leafaholic99
New member
Fanatic said:
He probably watched the Grey Cup, TSN asked him the same question and he said "We are in talks to renew, thats all I'll say"
Fanatic said:
It is a little surprising coming from the Sun. Quebecor doesn't have lots to do with Rogers/BCE that I'm aware of so the rumour probably didn't come along a common corporate path within a common organization. But the media would probably be the first to know about a big media deal and that's what this is.
Tory also has obvious media experience from his radio show, TV appearances and political efforts.
He's a past CEO of Rogers - which is probably the most important element in his resume for this position because this deal (if it comes off) is all about leveraging the broadcasting- that's what they've made their big bet on.
His father (recently departed) was closely tied to the Thomson family & Woodbridge and a good pal of Ted Rogers - which is how John Jr. got involved with Rogers. With his connections, it wouldn't surprise me if he took over Peddie's job at MLSE. He doesn't strike me as a business visionary the way Peddie was but he should be stronger at connecting the corporate media dots required to make this acquisition pay off.
John Jr's personality and Burke's are substantially different - opposites in a number of ways. I'm wondering how well they'll mix.
Hopefully, Jr. will stick to his media thing and just let Burke & Colangelo carry on and do what they do best.
cw said:
The telecom giants have been eyeing MLSE for its prized broadcast and Internet rights, especially for the Toronto Maple Leafs, a team that was recently valued at more than US$500-million and ranked as the most valuable hockey franchise by the influential U.S. business publication Forbes magazine.
The company also has a monopoly on teams in Canada?s largest and most lucrative sports market, except for the Toronto Blue Jays professional baseball team, which is owned by Rogers.
Sources say the Rogers family had given their approval to buy the entire controlling stake from Teachers but chief executive Nadir Mohamed convinced them that a joint bid with a major competitor was the more attractive option.
As a result, the proposed deal by Bell and Rogers would see the 79.53% stake divided equally between the two telecom companies, who would also split the estimated $1.4-billion purchase price.
Bell currently has an ownership stake in the Montreal Canadiens as part of the group that bought the hockey team in 2009 fronted by the brewing family Molson brothers. If the deal with Rogers goes through, Bell would likely be required to divest its interest in the Canadiens.
Any change in ownership of the sports teams would require approval from the various leagues.
Toronto-Dominion Bank sold its 13.46% stake in MLSE to Teachers last May for an undisclosed price.
I find it interesting that Rogers was ready to go ahead with the whole thing and then backed off to bring in Bell. Yet the stories at the time which were being reported were along the lines that the team was no longer for sale.
Liar liar. 8)
Fanatic said:
M & A stats are something roughly like 9 out of 10 deals fall through after a letter of intent is signed.
Sometimes, it's a ploy for a party to get their way or milk one last concession out of the deal. They dangle the deal. Everyone sees that it's just dripping with money that causes severe salivation of greed. And then a party pulls it back .... driving the other party to extreme greedy hunger and that final concession.
I wonder if Rogers has Bell involved so they don't run into a CRTC broadcasting issue or a monopoly issue. Just a curious guess as Rogers could afford to get this on their own.
CBC has to be concerned today.
Having two competitors at the table is probably where the argument occurred - bickering over their cut of the broadcasting steak.
The next hurdle if the deal has gone as far as reported is getting the lawyers to agree on the language - which is often an area of dispute. In this case, they have a three or four headed monster that has to get along (the 4th being Tanenbaum). Given it was reported they were close before, maybe this is where they ran into problems that they've since overcome.
The deal is never really done until the bank clears the wire transfer.
Zee
Active member
cw said:Fanatic said:
M & A stats are something roughly like 9 out of 10 deals fall through after a letter of intent is signed.
Sometimes, it's a ploy for a party to get their way or milk one last concession out of the deal. They dangle the deal. Everyone sees that it's just dripping with money that causes severe salivation of greed. And then a party pulls it back .... driving the other party to extreme greedy hunger and that final concession.
I wonder if Rogers has Bell involved so they don't run into a CRTC broadcasting issue or a monopoly issue. Just a curious guess as Rogers could afford to get this on their own.
CBC has to be concerned today.
Having two competitors at the table is probably where the argument occurred - bickering over their cut of the broadcasting steak.
The next hurdle if the deal has gone as far as reported is getting the lawyers to agree on the language - which is often an area of dispute. In this case, they have a three or four headed monster that has to get along (the 4th being Tanenbaum). Given it was reported they were close before, maybe this is where they ran into problems that they've since overcome.
The deal is never really done until the bank clears the wire transfer.
Cox never knew how high up the chain the lying went
From the Globe article:
The deal gives MLSE an equity value of roughly $1.66-billion, not including debt. Of that, Rogers and BCE are said to be paying about $1.33-billion for roughly an 80-per-cent stake.
At that price, MLSE has a total enterprise value of $2.1-billion, including debt.
In 2002, just before Stavro sold, MLSE was valued at roughly $1 billion. Since then, they've added assets: Leafs & Raptors TV, the Marlies relocation, Toronto FC & Arena Management business.
From the above, OTPP would continue to own about 16% of MLSE.
Tanenbaum 20+%
Bell & Rogers are apparently splitting the remaining (less than) 64%
The deal gives MLSE an equity value of roughly $1.66-billion, not including debt. Of that, Rogers and BCE are said to be paying about $1.33-billion for roughly an 80-per-cent stake.
At that price, MLSE has a total enterprise value of $2.1-billion, including debt.
In 2002, just before Stavro sold, MLSE was valued at roughly $1 billion. Since then, they've added assets: Leafs & Raptors TV, the Marlies relocation, Toronto FC & Arena Management business.
From the above, OTPP would continue to own about 16% of MLSE.
Tanenbaum 20+%
Bell & Rogers are apparently splitting the remaining (less than) 64%
Media Advisory: Major announcement about Maple Leaf Sports & Entertainment (MLSE)
TORONTO, Dec. 9, 2011 /CNW/ -
WHAT: A major announcement about Maple Leaf Sports & Entertainment (MLSE). This announcement will be live streamed at www.mlse.com
WHEN: Friday, December 9, 2011 9:30 a.m.
WHERE: Air Canada Centre 40 Bay St., Toronto
Media are asked to enter Air Canada Centre through Gate 2 and present valid credentials upon entry.
BROADCASTERS - Maple Leaf Sports & Entertainment will be providing a complimentary pool feed for media. If you wish to carry this announcement live, please call one of the media contacts below.
It's all over but the crying.
you can watch it here:
http://www.mlse.com/
(click "Major Announcement" around 9:30am)
TORONTO, Dec. 9, 2011 /CNW/ -
WHAT: A major announcement about Maple Leaf Sports & Entertainment (MLSE). This announcement will be live streamed at www.mlse.com
WHEN: Friday, December 9, 2011 9:30 a.m.
WHERE: Air Canada Centre 40 Bay St., Toronto
Media are asked to enter Air Canada Centre through Gate 2 and present valid credentials upon entry.
BROADCASTERS - Maple Leaf Sports & Entertainment will be providing a complimentary pool feed for media. If you wish to carry this announcement live, please call one of the media contacts below.
It's all over but the crying.
you can watch it here:
http://www.mlse.com/
(click "Major Announcement" around 9:30am)
Kin
New member
I don't know about you guys but I'm pretty jazzed. My #1 complaint as a Leafs fan is that my following the team wasn't as seamlessly integrated across various media platforms as I'd like. Why, as a male in the coveted 18-34 demographic, I have a great deal of disposable income and I'm not entrenched in my brand loyalties. With any luck, not only will my access to the team be increased by slickly produced content that I can stream from anywhere but I can also receive important information from the team's corporate partners, alerting me to products that they've specifically tailored to my interests, as derived from a profile of my web usage.
Guru Tugginmypuddah
Active member
Saint Nik said:
Until I can watch a Leaf game streamed live on a potato, I will be unhappy.