Rogers Media to acquire Score Media Inc.
Posted Aug 25, 2012 08:59:24 AM.
This article is more than 5 years old.
Rogers Media, the parent company of 570News, has announced that it will acquire Score Media Incorporated.
The purchase means Rogers will gain ownership of the theScore Television Network, although the acquisition does not include theScore’s digital media business.
That includes theScore.com website and its mobile application, which will be spun out to existing shareholders.
Rogers will retain a 10 per cent equity stake in the digital media business, however, as well as have access to the digital technology in order to enhance its mobile offerings.
“We continue to pursue opportunities to engage, expand and enhance the experience for sports fans. Rogers Media is on a growth trajectory and this builds on our momentum of delivering world-class sports content anywhere, anytime, on any platform,” said Keith Pelley, President, Rogers Media.
“theScore is a tremendous sports service that offers a distinct flavour of premium, niche programming that fits squarely within our strategy of delivering highly sought-after content to Canadians,” Pelley added.
The deal is valued at $167 million and is subject to court approval and approval from Score Media shareholders.
