Question: On December 9, 2011, Bell Canada and Rogers Communications announced the two companies were jointly acquiring a 79.53% interest in Maple Leaf Sports and Entertainment

On December 9, 2011, Bell Canada and Rogers Communications announced the two companies were jointly acquiring a 79.53% interest in Maple Leaf Sports and Entertainment (MLSE). MLSE owns several professional sports teams including the Toronto Maple Leafs and the Toronto Raptors. Is this a nonstrategic investment or a strategic investment by Bell Canada and Rogers Communications? Explain.

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