Bell Canada has finalized the sale of its 37.5% interest in Maple Leaf Sports and Entertainment (MLSE), marking a major shift in its strategic priorities. The stake was purchased by Rogers Communications, a fellow stakeholder, giving Rogers a dominant 75% ownership. The C$4.7 billion transaction, valued at $4.2 billion after taxes, was first announced last November and has now closed following necessary approvals from regulators and sports leagues.
The divestment allows Bell, also known as BCE, to focus on growing its core telecommunications business, particularly through its pending acquisition of Ziply Fiber in the United States. Bell reiterated its plan to fund the Ziply deal using proceeds from the MLSE sale but has yet to confirm a specific closing date, saying only that it is expected to happen later this year.
“This deal transforms our passive investment in MLSE into a key growth driver,” Bell said in a statement. The company emphasized that it isn’t exiting the media landscape altogether. Through its Bell Media division, it secured long-term broadcasting rights to Toronto Maple Leafs and Raptors games for its TSN platform, maintaining a strong media presence.
Bell’s move echoes a broader industry trend, as telecom operators streamline operations to focus on core services like fibre and 5G. Ziply Fiber, based in the Pacific Northwest, currently passes 1.3 million locations and aims to exceed 3 million by 2029. That goal is expected to accelerate under Bell’s ownership.
To boost its reach, BCE also launched a joint venture with PSP Investments called Network FiberCo, targeting underserved US markets. Through this venture and Ziply, BCE anticipates reaching 8 million fibre locations, positioning itself as a serious mid-tier competitor in the expanding US fibre landscape.