CRTC OKs CIYN Sale
May 13, 2009 at 4:55 PM (PT)
The sale of 2079966 ONTARIO LTD.. licensee of Classic Hits CIYN (THE COAST FM)/KINCARDINE, ON and an additional transmitter in GODERICH, ON, by BRIAN COOPER, DANIEL MCCARTHY, and HALLIBURTON BROADCASTING GROUP to JON POLE and ANDREW DICKSON's MY BROADCASTING CORP. has been approved by the CRTC. The agency valued the sale at C$1,126.520. BLACKBURN RADIO INC. is set to exercise an option to buy 29.9% of MBC.
However, the CRTC denied the station's application for an additional transmitter in PORT ELGIN, ON. The transmitter had been approved in 2005 subject to the company finding a different frequency than proposed, but the transmitter was not built. The agency had concerns that allowing the transmitter to be part of the primary station's sale would raise concerns about the integrity of the licensing process and that due to provisions in the sale document specifying that an application by MBC for a PORT ELGIN transmitter within nine months would trigger an additional payment to the seller, approval would raise additional concerns about license trafficking. MBC will not be permitted to apply for a PORT ELGIN transmitter for nine months.
And the CRTC approved a power change for PINERIDGE BROADCASTING's new PETERBOROUGH, ON FM, reducing power from 13,000 to 2,100 watts, increasing antenna height from 150 to 233 metres, and moving the antena closer to PETERBOROUGH.