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Leafs, Raptors sold to telecom rivals

Updated: December 9, 2011, 7:12 PM ET
Associated Press

TORONTO -- Canada's largest telecommunication companies announced Friday they have agreed to buy the NHL's Toronto Maple Leafs and NBA's Toronto Raptors in a billion-dollar deal as the fierce telecom rivals seek content for their sports channels, digital properties and smartphones.

Rogers Communications and BCE Inc purchased a majority stake in Maple Leaf Sports and Entertainment from the Ontario Teachers' Pension Plan for about $1 billion in one of the richest sports deal in North American ...

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