Newcap, Rogers Swap Halifax, Sudbury AMs
July 23, 2008 at 8:34 AM (PT)
NEWCAP is swapping its Classic Country CFDR-A (780 KIXX)/HALIFAX to ROGERS BROADCASTING in exchange for Country-Talk CIGM-A/SUDBURY, ON plus C$5 million. Both stations have applied to move to the FM band.
NEWCAP President and CEO ROB STEELE said, "If approved by the CRTC, this transaction will improve service to the public with superior FM quality signals in both HALIFAX and SUDBURY. We have owned CFDR for over 20 years, and while we are reluctant to divest of this station, we are pleased to expand our portfolio with a second station in SUDBURY, ONTARIO. NEWCAP RADIO is committed to build on and enhance its presence in the communities we serve and we look forward to expanding in SUDBURY."
"This is a wonderful opportunity for ROGERS to expand our presence in the HALIFAX market", added ROGERS CEO, Radio PAUL SKI. "We already operate NEWS 95.7 and this new license will complement this holding and will allow us to better serve our listeners in the market. While we are disappointed to be selling CIGM in SUDBURY, it is vitally important to both ROGERS and NEWCAP to build upon our station clusters. We know that NEWCAP will continue and build upon the proud traditions of CIGM."