TFCMANU
05 Dec 2008, 04:19 PM
CTVglobemedia Inc. has struck a deal to sell half its stake in the company that owns the NHL's Toronto Maple Leafs and the NBA's Toronto Raptors to fellow owner Lawrence Tanenbaum.
Mr. Tanenbaum said in a news release Friday that the media company has agreed to sell him 7.7 per cent of Maple Leaf Sports & Entertainment Ltd., a transaction that will make him the second-largest shareholder in MLSE after the Ontario Teachers Pension Plan. CTVgm is currently the second-largest shareholder in the company.
The parties did not disclose the price, but it is thought to be between $90-million and $100-million.
The sale will leave CTVgm with 7.7 per cent of MLSE, while increasing Mr. Tanenbaum's position to 20.5 per cent and leaving Teachers with 58.4 per cent.
http://business.theglobeandmail.com/servle...al_gam_mostview (http://business.theglobeandmail.com/servlet/story/RTGAM.20081205.wmaple1205/BNStory/Business/home?cid=al_gam_mostview)
Mr. Tanenbaum said in a news release Friday that the media company has agreed to sell him 7.7 per cent of Maple Leaf Sports & Entertainment Ltd., a transaction that will make him the second-largest shareholder in MLSE after the Ontario Teachers Pension Plan. CTVgm is currently the second-largest shareholder in the company.
The parties did not disclose the price, but it is thought to be between $90-million and $100-million.
The sale will leave CTVgm with 7.7 per cent of MLSE, while increasing Mr. Tanenbaum's position to 20.5 per cent and leaving Teachers with 58.4 per cent.
http://business.theglobeandmail.com/servle...al_gam_mostview (http://business.theglobeandmail.com/servlet/story/RTGAM.20081205.wmaple1205/BNStory/Business/home?cid=al_gam_mostview)