Rogers Secures $11 Billion NHL Media Rights Deal Through 2038

The 12-year agreement doubles the value of the previous deal, expanding national coverage and raising questions about financial sustainability.

Rogers Communications has officially signed a 12-year, $11 billion CAD deal with the NHL, securing exclusive national media rights in Canada starting in the 2026-27 season.
The agreement includes rights across TV, digital, and streaming platforms, with more live national games and fewer regional blackouts for fans.
Rogers' stock fell 5.9% following the announcement, reflecting investor concerns about the deal's profitability and the company's significant debt burden.
The deal allows for sublicensing opportunities, including French-language broadcasts and potential partnerships with platforms like Amazon Prime Video.
Rogers expects the agreement to drive profitability through revenue from advertising, subscriptions, and sublicensing, though analysts note challenges in monetizing the investment.