UPDATE: Standard files for IPO to become income trust

TORONTO - Standard Radio announced after the markets closed this afternoon that the company has filed for an initial public offering. In legalspeak, "a preliminary prospectus has been filed with all securities regulatory authorities in Canada for an initial public offering of units of the Standard Radio Income Fund. The Fund was created to indirectly acquire and hold an interest in SR Limited Partnership, which has been formed to acquire, among other things, certain of SRI's radio broadcasting assets, the shares of Integrated Media Sales Inc. held by SRI, and the business of Sound Source Networks operated by Standard Broadcast...