CRTC Approves COGECO Purchase Of Corus Quebec Stations, Orders CKOY Divestiture

Deal OKd

The CRTC has approved the sale of CORUS ENTERTAINMENT's QUEBEC radio holdings to COGECO, but disallowed COGECO's proposal to turn French Active Rock CKOY/SHERBROOKE to a rebroadcasting transmitter of French Sports CKAC-A/MONTREAL, and has ordered the company to divest itself of CKOY.

As part of the deal, COGECO is establishing a province-wide news and programming agency, COGECO NOUVELLES, and is also getting a waiver to allow it to own three FMs in MONTREAL.

The deal includes French Sports CKAC-A, French Hot AC CKOI, AC CFQR (THE Q 92.5), and French Talk CHMP (FM 98,5)/MONTREAL, French Hot AC CFEL (102.1 CKOI) and French Oldies CFOM (SOUVENIRS GARANTIS)/QUEBEC CITY, French Oldies CHLT (SOUVENIRS GARANTIS)/SHERBROOKE, French Oldies CJRC (104.7 SOUVENIRS GARANTIS)/GATINEAU-OTTAWA, French Hot AC CIME/ST. JEROME, and French Oldies CHLN (106.9 SOUVENIRS GARANTIS)/TROIS RIVIERES at a price of about C$80 million.  COGECO will spin off its own French AC CJEC (RYTHME FM) and the newly-acquired CFEL/QUEBEC CITY.

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