The Canadian Radio-Television and Telecommunications Commission has approved the sale of the sports TV channels owned by Maple Leafs Sports and Entertainment to Rogers Communications and Bell Canada Enterprises.

The two companies struck a deal in December to acquire a 75 per cent stake in MLSE, which owns key sports assets including the Toronto Maple Leafs, Toronto Raptors and the Toronto FC, from the Ontario Teachers’ Pension Plan for $1.07-billion.

“When deciding whether or not to approve a proposed ownership transaction, the Commission must be persuaded, in light of the application and the public record that an approval is in the public interest,” said Jean-Pierre Blais, Chairman of the CRTC. “In this case, we have been convinced that the transaction benefits Canadians as it will lead to the creation of new home-grown sports programming.”

The five television services owned by MLSE are Leafs TV, Gol TV and NBA TV Canada, as well as two services that have not yet launched, Mainstream Sports and Live Music Channel.

The deal is expected to close before the end of summer.