Rogers Media completes acquisition of Score Media

The deal has been closed into trust, pending final CRTC approval.
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Rogers Media has announced it has closed the acquisition of Score Media, following shareholder and court approvals last week.

The shares of Score Media are being held in a trust approved by the CRTC until the regulator issues a decision on the deal, which is expected in early 2013.

CRTC-appointed trustee Peter Viner will oversee the day-to-day operations of Score Media pending receipt of the regulator’s final ruling, according to the Rogers Media release.

The total sum paid by Rogers Media for Score Media was $167 million. It is listed in the release as Canada’s third largest sports channel (behind TSN and Sportsnet), with 6.6 million subscribers.

Score Media shareholders got $1.62 per share in cash and a voting share in Score Digital, a new company which will be formed after the takeover and consist of the digital media assets of Score Media.