ROGERS AND LARCHE COMMUNICATIONS SWAP ONTARIO RADIO STATIONS Canadian Press Rogers Communications is swapping Ontario radio stations with privately held Larche Communications Inc., trading CICX FM in Orillia for Larche's CIKZ FM in Kitchener.
"We believe this exchange makes perfect sense for both companies," Gary Miles, CEO of Rogers Media's radio division, said Monday in a release.
"We both share the same operating philosophies and commitment to broadcasting. CIKZ FM will make a great addition to our Kitchener holdings."
"This swap makes great strategic sense for our company," said Larche president Paul Larche.
"It will allow us to better compete and consolidate our efforts in central Ontario, where we already own CICZ FM Midland."
The deal is subject to approval from the Canadian Radio-Television and Telecommunications Commission.
Rogers owns 51 radio stations across Canada.
Shares in the company, which is also a major Internet, cellphone and cable TV provider, were down 10 cents at $44.03 in afternoon trading on the Toronto Stock Exchange. |