By Adriano Marchese
Rogers Communications is buying out the final portion of the Maple Leaf Sports and Entertainment from Larry Tanenbaum's Kilmer Sports for 4.35 billion Canadian dollars ($3.06 billion).
The Canadian telecom company on Monday said that it is buying the remaining 25% of MLSE from Kilmer sports, bringing full ownership under its wing.
The MLSE is a major sports and entertainment organization, owning multiple professional sports franchises such as the Toronto Maple Leafs NHL team and the Toronto Raptors NBA team.
Rogers' sports portfolio also includes ownership of the Toronto Blue Jays baseball team as well as the Rogers Centre stadium and Sportsnet sports media brand.
The company said that the full ownership of the iconic sports teams will strengthen its ability to drive long-term growth across its communications and sports entertainment segments.
Write to Adriano Marchese at adriano.marchese@wsj.com