The worst showing by Canadian hockey teams in 41 years isn’t just a downer for fans. It means lost revenue for BCE Inc. and other media companies that are spending at least C$6.5 billion ($5.9 billion) on teams and broadcast rights to profit from the country’s national obsession.
Phil Kessel scored three goals to propel the U.S. men’s hockey team into the quarterfinals of the Sochi Winter Games with a 5-1 defeat of Slovenia as the host Russians defeated Slovakia 1-0 in a shootout. Canada beat Finland 2-1 in overtime as Drew Doughty scored twice.
Jorien ter Mors broke the Olympic record by a half-second while leading a Dutch sweep of the women’s 1500-meter speedskating race, continuing the Netherlands’ dominance of that sport and putting the nation atop the medals standings at the Sochi Games.
The Josh Harris-controlled Philadelphia 76ers and New Jersey Devils signed a multiyear marketing agreement with partypoker, becoming the first major U.S.-based professional sports teams to align themselves with online gambling.
Rogers Communications Inc., Canada’s largest wireless carrier, reached a 12-year, C$5.2 billion ($4.9 billion) deal with the National Hockey League for broadcasting rights in the country starting in the 2014-2015 season.