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Maple Leaf Sports & Entertainment (MLSE), owner of the Toronto FC soccer team, is buying majority ownership of GolTV from Insight Sports. The purchasing agreement was made by one of MLSE's affiliate companies, which will see it acquire an 80.1% share of the soccer channel. The transaction will require CRTC approval.
Mark Rubinstein, president of Insight Sports, explains, " 'given Maple Leaf Sports & Entertainment's operation of Toronto FC, its on-going investment in soccer in Canada and its existing broadcast business we believe soccer fans will continue to be extremely well-served.' "
Tom Anselmi, EVP and COO of MLSE, says, " 'we're looking to take GolTV programming to the next level, which will benefit soccer, and support the development of the game at both the professional and grassroots level. GolTV is 100% dedicated to soccer and will continue to feed the insatiable appetite of soccer fans across our country.' "
MLSE will use GolTV to " 'create greater programming opportunities for our soccer club Toronto FC and also help the growth of Major League Soccer in Canada,' " Anselmi points out.
GolTV U.S. will still retain a 19.9% ownership share in GolTV Canada and will supply soccer game broadcasts from South American and various European leagues.
Source: Cartt, 01/23/2009
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