GATINEAU and DARTMOUTH – The CRTC announced today it approved the sale of CIZZ-FM and CKGY-FM in Red Deer, Alberta by Corus Entertainment to Newcap Inc.
The $8.4 million transaction is expected to close within 60 days.
"The completion of this purchase is very significant to Newfoundland Capital," said Rob Steele, president and CEO of NCC, in a release. "It represents an opportunity to provide our customers with even greater coverage in the province".
Newcap has a strong presence in Alberta, already serving 22 communities there. Red Deer is the third largest city in Alberta and is an important base for the growing provincial economy.
