Score Media Shares Skyrocket on Rogers Acquisition Speculation

Posted by Knowlton Thomas

Shares of Score Media soared nearly 50% in trading today following reports that Rogers Communications is in talks to acquire the specialty television sports broadcaster, according to an anonymous source cited in the Toronto Star.

The company has allegedly been trying to sell for a year or more, with speculation suggesting a price tag of up to $200 million. Rogers and Score both declined to comment on the rumours.

Quoth the Toronto Star:  

Insiders have suggested that it has become more and more expensive for independent sports television providers such as Score Media to operate in today’s climate with rights to events and highlight packages becoming more and more expensive. If Rogers does purchase the Score, it would be another network to showcase its sports properties like the Maple Leafs.

Joseph D’Cruz, a professor of strategic management at the University of Toronto’s Rotman School of Management, told the newspaper that the purchase—if reality—would be a "relatively minor play" and suggested that perhaps Rogers "just wants to keep it out of Bell's hands," explaining that sometimes big companies "do irrational things for emotional reasons."

Telcommunications companies acquiring television content creators and distributors has been a hot topic in Canada this year.

Photo: Financial Post

UPDATE: Score Media trading as been halted on the stock market.

UPDATE 2: The Globe and Mail sounds confident that this deal is very real, reporting that it could be announced today.

Company:
Bell Canada
Website:
http://www.bell.ca
Location:
Vancouver, British Columbia, Canada

Bell is Canada's largest communications company, providing the most comprehensive and innovative suite of communication services to residential and business customers in Canada. Operating under the Bell brand, the Company's services include Bell Home Phone local and long distance services, Bell Mobility and Solo Mobile wireless, high-speed Bell Internet, Bell TV direct-to-home satellite and VDSL television,... more

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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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis or otherwise enjoying the outdoors. more



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