Canada’s sports broadcasting world continues to become a smaller place, with Rogers Communications Inc. officially acquiring rival Score Media Inc. The deal which was made public after markets closed yesterday generated enough buzz throughout Friday to raise Score Media’s shares an incredible 47% in trading. Canada’s three largest sports broadcasters are now own by two media giants; TSN (BCE), Roger’s SportsNet and Score Media as well as both Bell and Rogers co-owning Maple Leaf Sports and Entertainment.
With the acquisition, Rogers will now add TheScore television network (6.8 million households), theScore.com (1.2 million unique visitors monthly) as well as 290 employees and a small collection of extremely popular mobile apps.
According to the official press release released by Score Media today, Rogers will acquire all of the company’s issued and outstanding shares as well as a 10% stake in Score Digital for $167 million in cash. Part of the deal includes Score Digital and Rogers Media entering into a software development and licensing arrangement that will allow Rogers to immediately improve their mobile sports offerings thanks to Score’s success within that realm.
Score’s apps are consistently ranked among the top overall for both BlackBerry and iOS devices. According to the Globe and Mail, the company had just further monetized their digital apps, allowing for users of the ScoreMobile FC app to bet on live EPL matches thanks to a partnership with a U.K. betting company. Currently, Score generates mobile revenue through ads.
Although Score Media was said to be seeking a $200 million offer, the acquisition is probably a better move overall for both firms. Score had been struggling to compete with larger rivals for top tier sporting events although they have a team of talented anchors and commentators. Rogers acquires another asset while also allowing themselves to expand further into digital and mobile, which is definitely a plus.
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