Commission approves Rogers-Newcap station swap

DARTMOUTH, NS - Newcap and Rogers Broadcasting have received CRTC approval to exchange a couple of radio stations, as well as their respective applications to convert the AM radio licences to the FM frequency.The two companies announced their intended swap earlier this year.Newcap will exchange its CFDR AM 780 (country) broadcast licence in Halifax, and in turn receive Rogers' CIGM AM 790 licence (news/sports/country music) in Sudbury plus a cash consideration of $5 million. Formal closing is expected in the next 60 days while launch of the two FM stations is expected within the next twelve months, according to the...