- Amended condition of licence includes expanded, flexibility in news programming - - $17.1m in tangible benefits to be invested in sports programming, athletes and community - - The Score to be rebranded under the Sportsnet umbrella on July 1 - - Tim and Sid and HOCKEY CENTRAL Playoff Extra begin this week on The Score -
TORONTO, April 30, 2013 /PRNewswire/ - Rogers Media today received final regulatory approval from the Canadian Radio-television and Telecommunications Commission (CRTC) to acquire Score Media Inc., which has been held in trust since October 19, 2012. With today's approval, Rogers Media will integrate the operations and financial results of Score Media effective immediately.
The acquisition of Score Media includes The Score, Canada's third largest specialty sports channel with 6.6 million television subscribers, closed captioning service Voice to Visual Inc., and mixed martial arts program The Score Fighting Series. As part of the transaction, Rogers Media's parent company, Rogers Communications Inc., acquires an 11.8 per cent equity interest in theScore Inc. (Score Digital).
The total consideration paid by Rogers Media in October 2012 was $167 million."The Score delivers niche sports news and information programming, complementing Rogers Media's robust multiplatform sports offerings and significant investment in sports content and experiences," said Keith Pelley, President, Rogers Media. "Last year, we made the bold statement to make Sportsnet the #1 sports media brand in Canada, and together with The Score, we take another step forward in achieving this goal." The Score will be rebranded under the Sportsnet umbrella, which continues to experience double-digit audience growth year-over-year* and deliver award-winning content across five platforms. The rebrand will be unveiled on July 1. Rogers Media received approval for its request to amend The Score's condition of licence, allowing for an enhanced viewing experience for Canadians while upholding The Score's nature of service as a headline sports news service. The changes to the condition of licence are an increase in the amount of analysis and interpretation programming to 15% from 10%, and flexibility to break into live sports event programming every hour to present sports results and video highlights, instead of every 15 minutes. Rogers Media plans for The Score to continue providing sports updates once every 15 minutes during live events when possible, as the nature of the game being played permits.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts