Another Big Day for Newcap

newcaplogo120pix(19 March 2014) Newcap Inc. has finally received  CRTC approval to acquire five stations that Bell were forced to sell as part of the Astral purchase last year.

They include two stations in Toronto (CHBM-FM & CFXJ-FM) and three stations in Vancouver (CHHR-FM, CKZZ-FM & CISL) .

The CRTC increased the value of the stations to  $125,970,603 which means Newcap will have to spend $7,558,236 in tangible benefits over seven consecutive broadcast years. Even at this price Newcap got a bargain, and this gets them into the two largest radio markets in Canada.

You can read the full decision here