Score Media completes C$167 million sale to Rogers Media
October 19, 2012
167.00 Million CAD
On October 19, 2012, Score Media announced that it had completed its previously announced plan of arrangement pursuant to which (i) Rogers Media Inc. had acquired the television business of Score Media via an acquisition of all of the outstanding shares of Score Media; and (ii) the digital media business of Score Media has been spun-out to Score Media’s shareholders as a new corporation named theScore, Inc. (“Score Digital”).
Under the plan of arrangement, shareholders of Score Media will receive, for each share of Score Media that they hold: (i) C$1.62 in cash; (ii) in respect of each Class A Subordinate Voting Share of Score Media held, one Class A Subordinate Voting Share of Score Digital; and (iii) in respect of each Special Voting Share of Score Media held, one Special Voting Share of Score Digital.
The total consideration paid by Rogers Media was C$167 million.
Score Media, headquartered in Toronto, Ontario, is a media company committed to delivering the ultimate digital service for sports fans.
Rogers Media, headquartered in Toronto, Ontario, is a diversified leading Canadian media company.
McCarthy Tétrault LLP represented Score Media, as target.