Rogers Communications Buys Score Media for $167 Million

Posted by Rob Lewis

Rogers Communications has struck an agreement to buy sports broadcaster Score Media in a transaction valued at $167 million.

The purchase price includes assumption of Score Media debt and an investment of $12 million in Score Digital which will be spun out to its existing shareholders.

Shares of Score Media jumped nearly 47 per cent Friday after reports that the specialty TV sports broadcaster was in discussions to be purchased by Rogers.

Score Media has been reportedly shopping its assets for about a year, with some reports suggesting chief executive John Levy was hoping to sell for $200 million.

"This deal allows us to continue to pursue our vision and strategy that have formed a huge part of what we've been doing at Score Media for some time," Levy said in a statement. "We can now focus 100 per cent on our digital products, building on the tremendous strides we have made in growing the international audience of our website and mobile apps."

The Score runs third place among rival Canadian sports channels TSN and Rogers Sportsnet. Once the deal receives regulatory approvals, the television network would be rebranded under the Sportsnet umbrella.

Rogers said in a statement Saturday that the acquisition of Score Media does not include its digital media business, including theScore.com website and mobile applications.

Immediately prior to the acquisition, Score Media's digital assets will be spun out to its existing shareholders, with Rogers Media retaining a 10 per cent equity interest in the digital media business. Rogers Media will also have access to Score Media's digital technology to immediately enhance its mobile offerings.

Company:
Rogers Communications
Website:
http://www.rogers.com
Location:
Toronto, Ontario, Canada

We are a diversified Canadian communications and media company. We are engaged in wireless voice and data communications services through Wireless, Canada's largest wireless provider and the operator of the country's only national Global System for Mobile Communications ("GSM") based network. Through Cable we are one of Canada's largest providers of cable television services as well as high-speed Internet access... more

Company:
Score Media Inc.
Website:
http://www.scoremedia.com
Location:
Toronto, Ontario, Canada

theScore’s mission is to provide a full digital service to sports fans, delivering a personalized user experience across all major mobile platforms through our mobile apps and website. Users are provided with a comprehensive, customizable service that dispenses real-time sports news, scores, fantasy information and alerts, alongside compelling, relevant content that allows for seamless social sharing by users.... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can... more



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