Recent Sports Team Sales Bode Well for Rogers Communications, Desjardins Says

MT Newswires Live

Aug 24

Recent sales of stakes in the Los Angeles Lakers, Atlanta Falcons and Minnesota Timberwolves suggest Rogers Communications Inc. (RCI-B.TO) will get attractive offers for its sports assets, Desjardins said on Monday.

Analyst Jerome Dubreuil said the sales of controlling and minority stakes occurred at premiums to Forbes' valuations.

"Overall, these deals suggest that sports valuations, to which RCI has significant exposure, continue to climb at a rapid pace," Dubreuil said in a note to clients. "This should help RCI get attractive offers for its upcoming monetization of MLSE, Jays, and related media assets."

Dubreuil said minority transactions are typically made at larger premiums than majority deals, a positive indicator for Rogers and management's valuation of more than C$25 billion.

The analyst maintained a hold rating and C$58 price target on Rogers shares.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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(RCI-B.TO) will get attractive offers for its sports assets, Desjardins said on Monday.</p><p>Analyst Jerome Dubreuil said the sales of controlling and minority stakes occurred at premiums to Forbes' valuations.</p><p>\"Overall, these deals suggest that sports valuations, to which RCI has significant exposure, continue to climb at a rapid pace,\" Dubreuil said in a note to clients. \"This should help RCI get attractive offers for its upcoming monetization of MLSE, Jays, and related media assets.\"</p><p>Dubreuil said minority transactions are typically made at larger premiums than majority deals, a positive indicator for Rogers and management's valuation of more than C$25 billion.</p><p>The analyst maintained a hold rating and C$58 price target on Rogers shares.</p><p>(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. 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