Rogers Communications has received approval from all the sports leagues involved to buy Bell's stake in Maple Leafs Sports and Entertainment.
Rogers, which also owns Sportsnet, announced the approvals from the NHL, NBA, CFL, MLS and AHL in a press release on Wednesday.
“We’re pleased to have league approvals to expand our ownership of MLSE, one of the most prestigious sports and entertainment organizations in the world,” said Tony Staffieri, President and CEO of Rogers, in a statement. “As Canada’s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.”
Rogers announced in September that it had agreed to purchase Bell's stake in MLSE for $4.7 billion. The purchase would double Rogers' stake in the company to 75 per cent, making the company the majority owner.
MLSE's sports teams include the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts, Toronto FC and Toronto Marlies.
In its statement on Wednesday, Rogers said the deal with Bell is subject to approval from the CRTC to acquire an additional indirect interest in NBA TV Canada. Rogers has previously received clearance from the Competition Bureau to proceed with the acquisition.
