Newcap gets Thunder Bay approval

DARTHMOUTH, N.S. - Newcap Inc., announced today that the CRTC has approved its $2.3 million purchase of CJUK-FM, Magic 99.9, from Big Pond Communications Inc. of Thunder Bay, Ontario. This transaction is expected to close May 30, 2005. Newcap signed the purchase agreement last June. “We have had a presence in Thunder Bay for over 15 years," said Rob Steele, president and CEO, in a release. "The purchase of Magic 99.9 will perfectly compliment our existing station, CKTG-FM, The Giant." Thunder Bay is the largest metropolitan city in Northwestern Ontario and represents an important commercial base for NCC's penetration into...