WWE’s Canada TV outlet sold

Aug 25, 2012 - by Steve Gerweck

TORONTO – Rogers Communications has struck an agreement to buy sports broadcaster Score Media Inc. in a transaction valued at $167 million.

Shares of Score Media (TSX:SCR) jumped nearly 47 per cent Friday following reports that the specialty TV sports broadcaster was in discussions to be purchased by Rogers (TSX:RCI.B).

Score Media, which owns the Score Television Network, rose 49 cents to $1.54 on the Toronto Stock Exchange before its stock was halted pending news just before noon.

Score Media, which is based in Toronto, has been reportedly shopping around its assets for about a year, with some reports suggesting that chief executive John Levy was hoping to sell for $200 million.

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(thanks to Mike Informer for the link)

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