Newcap Sells Winnipeg Combo To Evanov
May 20, 2011 at 4:03 AM (PT)
NEWCAP is selling its WINNIPEG combo -- Ethnic CKJS-A and Rock CHNK (K-ROCK 100.7) -- to EVANOV RADIO GROUP's DUFFERIN COMMUNICATIONS INC. subsidiary for C$5.5 million.
NEWCAP President and CEO ROB STEELE said, "While we enjoyed being in WINNIPEG, we have been unable to grow our presence in MANITOBA and decided to redeploy our capital to other markets in CANADA. We would like to thank all of our WINNIPEG employees for their dedication and support over the years."
EVANOV President BILL EVANOV said, "We are pleased to have reached an agreement with NEWCAP to purchase CKJS AM and CHNK FM; they will be a great addition to our new WINNIPEG station CFJL 106.1 FM which is set to launch this summer. Together, these three locally operated stations will become an integral part of the WINNIPEG community. Over the years we have had a great relationship with NEWCAP and will continue their tradition of providing quality local radio services to the WINNIPEG community."