Rogers signed a deal to purchase Bell’s 37.5 percent ownership stake in MLSE, which owns the Maple Leafs and Raptors.

The takeover has begun. On Wednesday morning, Rogers controlling interest in the Toronto Maple Leafs when it purchased Bell’s 37.5 percent stake of Maple Leaf Sports & Entertainment at a whopping $4.7 billion Canadian ($3.5 billion US). The sale would put a $9.3 billion US valuation on MLSE.

Rogers Communications announced it has purchased Bell Canada Enterprises' 37.5% stake in Maple Leaf Sports and Entertainment for $4.7 billion, giving the media giant a majority stake ownership of Canada's largest and most valuable sports conglomerate.