OTTAWA – The CRTC approved the purchase of six British Columbia radio stations from Island Radio by Jim Pattison Broadcast Group.
The stations – all on Vancouver Island – are: CHWF FM 106.9 “The Wolf” FM in Nanaimo, playing the best of classic rock and new rock; CKWV FM 102.3 “The Wave” FM in Nanaimo, which plays hot adult contemporary music from the 80s, 90s and today; CIBH FM 88.5 “The Beach” FM in Parksville/Qualicum Beach, offering adult contemporary music from the 70s through today; CHPQ FM 99.9 “The Lounge” FM in Parksville/Qualicum Beach, which plays the greatest pop standards of the past 50 years; CKLR FM 97.3 “The Eagle” FM in Courtenay/Comox/Campbell River, offering a variety of hit music from classic hits to today’s best music; and CJAV FM 93.3 “The Peak” FM in Port Alberni, playing classic hits – the best of the 70s, 80s, 90s, and now.
The purchase price was $12.5 million and the addition means Pattison now owns 26 radio stations in Alberta and B.C.
When the deal was announced in November 2005, Pattison Broadcast president Rick Arnish said all 63 Island Radio employees would be retained by the stations’ new owner, as will the stations’ formats.
The transaction will see tangible benefits of $750,000 (6% of the value of the sale) distributed over seven years, according to the decision.
