OK RADIO DEAL CREATES UNCERTAINTY Mike Devlin – Victoria Times Colonist The OK Radio Group, whose roster of privately owned radio stations includes Victoria's rock stations The Q and The Zone, has reportedly sold its five Alberta radio stations to a publicly traded media conglomerate.
While the deal, which is not yet final, reportedly does not include the two Victoria properties, it is only a matter of time until those change hands as well, a source close to the station says.
The Q and The Zone are the city's only independently operated commercial radio stations. The other four commmercial FM stations in the city are owned by large companies that also own such properties as TV stations and newpapers.
"All we can say at this time is that there is an offer and due diligence process is underway. It's for the Alberta properties and Victoria is not part of the deal." say Dan McAllister, general manager for both The Q and The Zone.
Calls to OK Radio Group's head office in Edmonton were not returned Monday. The OK Radio Group has been privately owned since launching its first radio station in Fort McMurray, Alta., in 1973. It opened The Q in 1987 and acquired the license currently used by The Zone in 1994. Staff at the Quadra street offices of The Q and The Zone were informed by management of the Alberta deal just after 9a.m., and were told that nothing would change in Victoria.
Rogers Broadcasting has reportedly purchased The OK Radio Group's Alberta holdings, but the deal does not include the two Victoria stations for legal reason.
In an effort to curb domination of radio markets, the Canadian Radio-Television and Telecommunications Commission, which regulates all aspects of the Canadian broadcasting industry, says that no one company can own more than two FM properties in a single market.
Rogers owns both The Ocean (98.5 FM) and Jack (103.1 FM) in Victoria.
How long the city's longest-running commercial rock stations remain independent is up in the air. "We still are today," McAllister says. |