NEWFOUNDLAND CAPITAL CORPORATION RECEIVES CRTC APPROVAL TO PURCHASE A SECOND WINNIPEG, MANITOBA RADIO STATION CNW Newcap Inc., (a wholly-owned subsidiary of Newfoundland Capital Corporation) announced today that the Canadian Radio-television and Telecommunications Commission has approved the purchase of CKJS Limited which holds the CKJS-AM radio broadcast licence in Winnipeg, Manitoba. This transaction is expected to close within 60 days.
CKJS-AM is a multicultural and multilingual station that serves the needs of a diverse cultural population in Winnipeg. This is the Company's second acquisition in Manitoba. Newcap will combine the operations of CKJS and the previously announced acquisition of CKFE-FM, "Café 100", under one roof. The Company will also benefit from operating synergies including combined advertising programs and promotional initiatives.
About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited is one of Canada's leading small and medium market radio broadcasters with 72 licences across Canada. The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking. |