By Robb M. Stewart
Rogers Communications has inked a roughly $7.7 billion deal to secure the Canadian TV rights to National Hockey League games for another dozen years.
The communications and entertainment company said Wednesday it signed an agreement with the hockey league for the national media rights to games on all its platforms in Canada through the 2037-2038 season, valued at 11 billion Canadian dollars, the equivalent of $7.69 billion.
The new deal will start next season, when the contract for rights to NHL games the company has held since 2014 was set to expire.
"Hockey is Canada's game and we're proud to be the home of hockey," said President and Chief Executive Tony Staffieri, who has made Rogers embrace of sports a core part of the company's strategy.
Staffieri described the NHL broadcast agreement as the most valuable sports rights in Canada.
Rogers said the agreement is expected to be accretive to its shareholders and continue to drive profitability for its Rogers Sports & Media arm from the outset. The financial terms of the contract include escalating annual payments that will total C$11 billion paid to the NHL over the 12-year term of the contract.
With the agreement Rogers secures the national rights for games on platforms including television, digital and streaming for all regular season games and in all languages. It also will hold the rights to playoff games, the Stanley Cup Final and all special events.
Canada is on a high when it comes to hockey, after the national team early this year won the Four Nations Face-Off, beating the U.S. in a close-fought finale for the hockey league's new tournament.
Rogers deal for the NHL rights comes after the Canadian company last year launched a C$4.7 billion deal to secure majority control of Maple Leaf Sports & Entertainment, the professional sports company that houses franchises including the Toronto Maple Leafs, the Toronto Raptors and Toronto FC soccer team.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
April 02, 2025 07:48 ET (11:48 GMT)
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