NEWCAP RECEIVES CRTC APPROVAL FOR SECOND FM IN OTTAWA NewCap Release Newfoundland Capital Corporation Limited is pleased to announce today that its wholly owned subsidiary, Newcap Inc., has been awarded a second FM radio licence in Ottawa, Ontario by the Canadian Radio-television and Telecommunications Commission (CRTC Decision No. 2005-253).
"This is a significant accomplishment for our Company. It was a highly competitive hearing with many credible applicants," commented Rob Steele, President and Chief Executive Officer. "It is recognition of Newcap Radio's commitment to innovation and serving local communities. This second licence perfectly complements our existing station and will enhance our presence in Ontario."
The nation's capital is an extremely important market for Newcap. Ottawa is Canada's fourth largest market by population and fifth largest market by radio revenue. It boasts a high concentration of leading technology companies and a strong retail sales base.
The new station is expected to be on-air this Fall offering the popular alternative rock format. |