Report: Standard Radio Considering IPO, Trust
April 12, 2006 at 5:59 AM (PT)
STANDARD BROADCASTING CORP. LTD., the Canadian radio giant, is considering issuing an IPO that would put the company's value at C$1 billion.
The GLOBE AND MAIL reports that the company has met with TORONTO investment banks like RBC DOMINION SECURITIES and SCOTIA CAPITAL to look at "a range of strategic options," which includes issuing a third of the company's stock in an IPO and/or converting the company into a trust for estate planning purposes. CEO GARY SLAIGHT confirmed the talks to the paper but said "we have not made a decision and we have not finalized anything." STANDARD owns 51 stations across CANADA and is a partner in SIRIUS CANADA (which would not be included in the IPO).
we have not made a decision and we have not finalized anything