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Update: Rogers announces the acquisition of Score Media
Toronto-based Score Media is best known for their ScoreMobile app and is apparently being snatched up by Rogers. The details are scarce, but the Globe is reporting that the deal will be made public after the market closes today. Score Media has been on the market for some time and was asking $200 million for their assets, which includes TheScore Television network (reaches 6.8 million Canadians), theScore.com (over 1.2 million unique visitors per month), various mobile applications, plus the 290 employees that help run the business.
The ScoreMobile, ScoreMobile FC and SportsTap mobile apps all have been downloaded millions of times and have a loyal following, specifically for those who track the NHL, NFL, NBA, MLB and NASCAR. The apps are available on the iOS, Android, BlackBerry, Windows Phone and Kindle Fire.
Both companies have declined to comment on the rumour. However, the ScoreMedia stock has been halted and surged up to 46% today on the speculation. This will be a very solid addition to the Rogers media brand and will give them an edge up in extending their reaching to sports fans via mobile. No word on how this will flow into Rogers current sports brand Sportnet.
Update: A press release just went out today, September 25th, by Score that confirms this news. “Under the terms of the agreement, Rogers Media will acquire all of the issued and outstanding shares of Score Media and a 10% equity interest in Score Digital for total cash consideration of $167 million (CAD).”
The deal is expected to close by October 2012. Full press release is below:
Score Media announces sale of Television Business to Rogers Media and spin-out of Digital Media Business
TORONTO, Aug. 25, 2012 /CNW/ – Score Media Inc. (“Score Media”) today announced it has entered into an agreement with Rogers Media Inc. (“Rogers Media”) pursuant to which (i) Rogers Media will acquire the television business of Score Media via an acquisition of all of the outstanding Class A Subordinate Voting Shares (“Class A Shares”) and Special Voting Shares of Score Media for $1.62 per share; and (ii) the digital media business of Score Media will be spun-out to Score Media’s shareholders as a new corporation to be formed under the Canada Business Corporations Act (the “CBCA”) (“Score Digital”). Shareholders representing approximately 30% of the outstanding Class A Shares and 100% of the Special Voting Shares have agreed to vote their shares in favour of the transaction.Score Media’s television business is comprised of theScore Television Network, closed captioning service provider Voice2Visual, and theScore Fighting Series (SFS). Score Media’s digital business includes theScore.com and its mobile applications ScoreMobile, ScoreMobileFC and Sportstap. John Levy, Founder, Chairman and Chief Executive Officer of Score Media will lead the digital media business following the spin-out.
Under the terms of the agreement, Rogers Media will acquire all of the issued and outstanding shares of Score Media and a 10% equity interest in Score Digital for total cash consideration of $167 million (CAD). The total consideration includes the per share cash consideration of $1.62, funds to repay Score Media’s outstanding credit facility, up to $12 million to initially capitalize Score Digital, and funds to pay certain advisory, professional and other expenses related to the transaction. In addition, as part of the transaction, Score Digital and Rogers Media will enter into a software development and licensing arrangement under which Rogers Media will have access to Score Digital’s mobile technology to immediately enhance its mobile sports offerings.
“I am extremely proud of our team at theScore Television Network and the unique original content we produce each and every day,” said Mr. Levy. “As part of Rogers Media’s inventory of sports properties, its extensive programming assets and senior management’s commitment to securing premium sports content, I am confident the network will continue to grow and contribute to the Canadian sports scene.”
“This deal allows us to continue to pursue our vision and strategy that has formed a huge part of what we’ve been doing at Score Media for some time. We can now focus 100 percent on our digital products, building on the tremendous strides we have made in growing the international audience of our website and mobile apps.”
Rogers also noted that “The acquisition builds on Rogers’ rich history in sports and reinforces its commitment to delivering premium sports content to its audiences on their platform of choice. Upon receipt of final regulatory approvals, the television network will be rebranded under the Sportsnet umbrella.”
Source: Globe
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26 comments for “Update: Rogers announces the acquisition of Score Media”
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So does this mean that Rogers will get rid of SportsNet?
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No way that will happen. This is Rogers just buying more property on the Monopoly board. I don’t know who watch The Score, but the mobile app is awesome.
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I just hope that Rogers doesn’t make the Score Mobile apps exclusive only for their mobile customers. That’s a type of move you can easily expect from Rogers.
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Just like Bell kept TSN mobile tv app for bell devices only?
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I was hoping Bell acquired them since they are a lot better with the media market than Rogers
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I agree completely. If you look at TSN (Owned by Bell by way of CTV), there online content is amazing. If you ever watch a hockey game, you know exactly how well there streams are.
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Have a friend at score. Says they will probably announce it after the market closes.
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Someone needs to save The Score, hopefully Rogers can do it. The network used to have plenty of good personalities and programming but has recently turned into a laughing stock. Almost all original programming/features have been cut, and the steady outflow of on-air talent has been insane over the past year.
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Yeah, Rogers will save TheScore. They’ll bring over that re-tard ‘showdown joe’ and move all their UFC programming there. That’ll do it.
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Rogers can’t save themselves, how can they save another? Stunningly poor performance over the last four quarters
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Agree. When they lost Cabral “Cabbie” Richards, I knew something was up. Then they lost Sid and Tim, but they might be back since Sid and Tim, if I am not mistaken work for Sportsnet radio. It would be nice to see out-of-market games from Rogers as they only show the regional Canadian team. They should do something like TSN where they have out-of-market games on wednesdays.
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Great, here come more rate hikes for another acquisition.
Here’s an idea Nadir, how about going back to your core businesses and shore them up by improving prices, value and service? You remember your core, right? Cable, Internet and Wireless. They are flailing and you are fiddling with these side adventures.
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Doesnt Vince McMahon own 30% of the score??
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Hidden due to low comment rating. Click here to see.
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some pretty old phones in that picture.
original bold
nexus one
iphone 3/3s
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God, they’re like a virus aren’t they.
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I totally watch that station sometimes! OMG!
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Still can’t believe ISP/CableCos are allowed to own media networks. They’re able to control everything from the content to our houses, so anti-consumer.
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Oh great. Just what we need. Another pure thing eaten up by Rogers. I love The Score, as I’m a huge wrestling fan and that’s where I have to watch it. It might be good if they can get rid of the now 1 hour delay for Monday Night Raw that’s forced me to stream the show online. They say it’s due to airing costs of live events so they need a delay. Hopefully this will negate that.
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The only time I watched Score was for WWE Raw. Their mobile app is pretty nice minus the Android widget sometimes not updating. I could see Rogers combining Sportsnet with Score mobile stuff.
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and nothing of value was lost…
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I love the score. The news definitely sucks, but what can you do.
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Well, the day is over. Did it happen or not? Come on Mobilesyrup, don’t say something is expected to happen by the end of the day and then just leave us hanging.
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You are paying for this acquisition, dear Rogers subscribers. No wonder you’re being ripped off monthly. How does it feel? Go ahead, let it all out!
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Get ready for: “enhance apps Fee” by Robbers Anyone?
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my roomate’s step-mother brought in $15301 last month. she has been making cash on the computer and moved in a $482100 condo. All she did was get fortunate and put into work the information given on this web N U T T Y R | C H . C 0 M
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