Rogers Communications Inc. is buying BCE Inc.’s 37.5% stake in Maple Leaf Sports & Entertainment Ltd. for C$4.7 billion ($3.5 billion), giving the telecommunications giant a majority stake in the sports company whose most valuable assets include the Toronto Maple Leafs hockey club and the Toronto Raptors.

Rogers Communications Inc. is buying out Bell’s 37.5% share of Maple Leaf Sports & Entertainment for $3.5 billion.

The Toronto Raptors ownership is shifting around, but nothing much will change for the franchise.

Canadian telecommunications heavyweight Rogers has signed an agreement to buy fellow Canadian telecoms company Bell's 37.5% ownership stake in the Toronto-based sports franchise owner Maple Leaf Sports & Entertainment (MLSE) for C$4.

Rogers Communications will become the majority owner of MLSE -- the parent company of franchises including the Toronto Maple Leafs and Raptors -- after agreeing to buy 37.5 percent of the organization.