Rogers Communications is acquiring the remaining stake in Maple Leaf Sports and Entertainment from Larry Tanenbaum's Kilmer Sports for C$4.35 billion ($3.06 billion USD). This transaction gives Rogers complete ownership of the company that controls the Toronto Maple Leafs, Toronto Raptors, and other major sports franchises.

Tanenbaum's Kilmer Sports previously held a significant minority position in MLSE, partnering with Rogers and BCE in a complex ownership structure. The buyout eliminates the final external stakeholder, consolidating control under Rogers Communications.

The deal values MLSE at approximately C$4.35 billion, representing one of the largest transactions in Canadian sports history. Rogers already owned roughly 75% of the company through its partnership with BCE.

This acquisition strengthens Rogers' position in premium sports content, giving the telecom giant exclusive rights to broadcast games and events featuring Toronto's major professional teams. The consolidation could pressure competitors like BCE and raise regulatory questions about media monopolization in Canada's largest market.