Newcap Revenues, Profits Rise In Q2, Company Buys Two B.C. FMs
August 4, 2011 at 5:10 PM (PT)
NEWFOUNDLAND CAPITAL CORP. -- NEWCAP -- saw revenues rise 10% to C$33 million and profits increase from C$2.5 million to C$5.9 million in second quarter.
The company also announced that it is buying Classic Rock CKKO (K963)/KELOWNA, BC from SUN COUNTRY CABLEVISION and Country CIGV (100.7 GIANT FM)/PENTICTON, BC from GREAT VALLEYS RADIO. President and CEO ROB STEELE said, "These licences are a great fit for our Company. It is in a growing area of the country and gives us a presence in BRITISH COLUMBIA's OKANAGAN VALLEY. There is potential for growth and we expect these acquisitions to be cash accretive in the near term."