Wednesday, December 2, 2009

Newfoundland Capital gets CRTC approval to sell Thunder Bay radio stations

Newfoundland Capital Corp., one of Canada's leading radio broadcasters with 81 licences across the country, said Wednesday it has received approval from the CRTC to sell two FM radio stations in Thunder Bay, Ont., to Acadia Broadcasting. The company announced the sale of the stations CKTG-FM The Giant 105.3 and CJUK-FM Magic 99.9 for $4.5 million plus working capital in July. Acadia Broadcasting is a community focused radio broadcaster with 10 licences in New Brunswick, Nova Scotia and Ontario. It owns radio stations in the Ontario cities of Fort Frances, Kenora and Dryden.

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