Bank of Montreal, which advised on deals involving two Canadian premier hockey teams in the past five years, is targeting North America’s sports industry to bolster its U.S. mergers-and-acquisitions business.
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.
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.
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.
Rogers Communications Inc. , Canada’s largest wireless carrier, is in talks to buy the Toronto Maple Leafs National Hockey League team and the Raptors basketball club for about C$1.3 billion ($1.28 billion), the Toronto Star reported, citing people it didn’t identify.
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.