Corus Entertainment has sold its Quebec radio stations to COGECO for $80-million. The Corus Quebec stations are: CFQR-FM 92.5 Montreal, CHMP-FM 98.5 Montreal, CKOI-FM 96.9 Montreal, CKAC-AM 730 Montreal, CJRC-FM 104.7 Gatineau, CHLT-FM 107.7 Sherbrooke, CKOY-FM 104.5 Sherbrooke,CHLN-FM 106.9 Trois-Rivieres, CFOM-FM 102.9 Quebec City, CIME-FM 103.9 St-Jerome and CFEL-FM 102.1 Quebec City.
Absent from that list is CKRS-FM Saguenay which, as noted in Broadcast Dialogue earlier this month, Corus had been seeking to sell quickly. Also not included on the list is CINW Montreal (the former CFCF, Canada’s oldest radio station) and CINF Montreal, both of which had their plugs pulled at the end of January, 2010.
The 12 stations will join the five stations COGECO already owns in Montreal, Quebec City, Trois-Rivieres and Sherbrooke.
On April 14, Corus announced that radio – in the company’s second quarter financial results – saw revenues decrease by 4% and 5% for the year-to-date.
Corus President/CEO John Cassaday, commenting on the sale, said that Corus will “… focus on brands in our television division and our Ontario and Western Canadian radio stations.”