Rogers Communications has acquired BCE’s 37.5% stake in Maple Leaf Sports and Entertainment for CA$4.7 billion ($3.48 billion based on current exchange rates). MLSE is the parent company of the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors and MLS’ Toronto FC.

Rogers already owned 37.5% of MLSE, and it puts a total valuation on the entity of $9.3 billion. Rogers also owns the Toronto Blue Jays, who are worth $2.27 billion, according to Sportico. Larry Tanenbaum owns the remaining 25% stake in MLSE, which also includes the Canadian Football League’s Toronto Argonauts.

Rogers declined to comment, and BCE did not immediately respond to a request for comment.

In 2012, competing telecom giants Rogers and BCE teamed up to purchase a majority of MLSE from the Ontario Teachers’ Pension Plan for CA$1.32 billion ($1.78 billion).

This story will be updated.