TORONTO - Shares of Score Media Inc. (TSX:SCR) jumped nearly 47 per cent near midday following reports that the specialty TV sports broadcaster was in discussions to be purchased by Rogers Communications (TSX:RCI.B).
Score Media, which owns the Score Television Network, rose 49 cents to $1.54 on the Toronto Stock Exchange before its stock was halted pending news just before noon.
Earlier in the day, a report in the Toronto Star cited an unnamed source saying that Rogers was considering the acquisition.
Score has been reportedly shopping around its assets for about a year, with some reports suggesting that chief executive John Levy was hoping to sell for $200 million.
The sports network, well-known for its mobile apps, has credited its fast growing mobile platform for much of the revenue growth it has seen in the past year.
The Score runs third place among rival Canadian sports channels TSN and Rogers Sportsnet.