NEWCAP INC. RECEIVES CRTC APPROVAL TO PURCHASE CTV LIMITED'S 50% INTEREST IN METRO RADIO GROUP INC. CNW Newfoundland Capital Corporation announced that its wholly-owned subsidiary, Newcap Inc., has received approval from the Canadian Radio-television and Telecommunications Commission (CRTC) for the purchase of CTV Limited's 50% interest in Metro Radio Group Inc. for $8.5 million. Metro Radio Group Inc. operates CKUL-FM in Halifax, Nova Scotia. This transaction is expected to close within 60 days.
About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited is one of Canada's leading radio broadcasters with 76 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. |