Maple Leaf Sports chairman boosts stake to 20.5 pct

TORONTO Thu Feb 19, 2009 11:42am EST

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TORONTO Feb 19 (Reuters) - Lawrence Tanenbaum, the chairman of privately held Maple Leaf Sports & Entertainment Ltd, has completed his purchase of an additional 7.7 percent stake in the company, making him its second-biggest shareholder.

Tanenbaum said on Thursday he bought the stake from media company CTVglobemedia, which will continue to hold another 7.7 percent of MLSE.

MLSE owns the National Hockey League's Toronto Maple Leafs, the Toronto Raptors of the National Basketball Association and the Air Canada Centre arena in Toronto.

The deal leaves Tanenbaum with a 20.5 percent stake in the company and makes him the second largest shareholder after the Ontario Teachers' Pension Plan, which holds 58.4 percent.

The price of the deal was not disclosed. (Reporting by Wojtek Dabrowski; editing by Rob Wilson)

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