On December 9, 2011, the Ontario Teachers' Pension Plan announced that it would sell its majority stake in Maple Leaf Sports & Entertainment to two major telecommunications companies; Bell Canada (TSN's main parent company) and Rogers Communications (owners of the competing Sportsnet chain of sports channels) with a 37.5% share each (Larry Tanenbaum increased his ownership to a quarter of the company as well), in a deal expected to be valued at around $1.32 billion in total. The deal was completed in summer 2012, following the approval of Canada's Competition Bureau, the Canadian Radio-television and Telecommunications Commission (with regards to MLSE's television channels), as well as the leagues for each of MLSE's main sports franchises. The deal was expected to have a major impact on future broadcast rights for MLSE's teams, including the Toronto Maple Leafs and Toronto Raptors, as their ownership of the teams will offer enhanced coverage for the team through new platforms such as mobile television.