Newcap profits double in Q2; agrees to buy two B.C. stations

DARTMOUTH, N.S. - Radio broadcaster Newfoundland Capital Corp. has reported profits of $5.9 million in the second quarter, up from $2.5 million in the same quarter last year. Revenues increased to $33 million from $30 million.Newcap also announced agreements to acquire the independently owned radio stations CKKO FM of Kelowna and CIGV FM (along with its two repeater licenses) of Penticton, British Columbia, subject to approval from the CRTC."These licenses are a great fit for our company. It is in a growing area of the country and gives us a presence in British Columbia's Okanagan Valley. There is potential for growth...