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Wednesday
October 29, 2008
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MLSE In Talks To Acquire GolTV, May Launch New Sports Channel

 
Maple Leaf Sports & Entertainment (MLSE) is "pondering the expansion of its television holdings," and the company is "in negotiations to acquire" soccer channel GolTV, according to sources cited by William Houston of the GLOBE & MAIL. Sources said that the deal is "close to completion." It is speculated MLSE will buy GolTV from Toronto-based Insight Sports, in which MLSE Chair Larry Tanenbaum "has a majority interest," for about C$12M. MLSE would use GolTV to "carry a schedule of games involving" MLS Toronto FC, which MLSE owns. Houston notes Insight "has invested at least" C$6M since launching the channel in '05, though the net "lost more than" C$2M in each of its first two fiscal years. MLSE also is considering an "application to launch a general-interest sports channel," and is "looking at the example of MSG" (GLOBE & MAIL, 10/29). MLS Commissioner Don Garber said any acquisition of a soccer network by MLSE would require board approval (Tripp Mickle, SportsBusiness Journal).

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