The Globe and Mail reports in its Thursday edition that Rogers is taking control of professional sports in Toronto by acquiring rival BCE's stake in Maple Leaf Sports & Entertainment for $4.7-billion. The Globe's Andrew Willis and Cathal Kelly write that Rogers is purchasing Bell Canada parent BCE's 37.5-per-cent share of MLSE, owner of the NHL's Maple Leafs, NBA's Raptors, CFL's Argonauts and MLS's Toronto FC, after sharing ownership of the company for the past 12 years. Bell wants to pay down debt and invest in its telecom business. The transaction values MLSE at $12.5-billion, setting a new high-water mark for the price of Canadian sports franchises. Rogers boss Tony Staffieri told The Globe that Bell "decided to sell, they made an outreach to us, and we took the opportunity." Rogers is seeing customers cut the cord and switch to streaming services and on-line viewing. Once Rogers closes the MLSE purchase, analysts predict the telco will attempt to cash in on the value of its sports and media properties by selling a minority stake in an initial public offering. "Today's announcement is an initial step in a longer-term process to surface value in Rogers's sports properties," BMO analyst Tim Casey said in a note.