OTTAWA – The CRTC will hold a public hearing next February to consider Leclerc Communication’s proposal to buy French-language commercial radio stations CHOI-FM Québec and CKLX-FM Montréal from RNC Media for $19 million.
Leclerc is seeking to change the format of CKLX-FM (91,9 Sports) from all sports talk to a music format similar to its 91.9 WKND station in Quebec City, and added that the acquisition of the stations is conditional upon the Commission’s approval of the proposed format change. It is not proposing to change programming at CHOI 98,1 (Radio X).
The broadcaster has also requested an exception to the CRTC’s Common Ownership Policy for permission to own and control CHOI-FM, which would be the third French-language FM radio station that it would own in Quebec City (it already owns CFEL-FM and CJEC-FM in that market).
According to the asset purchase agreement, Leclerc will purchase most of the assets of the undertakings for $19 million, and has proposed a value of the transaction of $19,405,444, which includes a tangible benefits package of $1.16 million, equal to 6% of the value of the transaction.
The Commission said Friday that the public hearing will kick off on February 20, 2019 (location TBC), and that interventions are due by December 17, 2018.
“We are eager to meet listeners from the greater Montreal area who are passionate about music”, said Leclerc Communication programming VP Jean-François Leclerc, in a company statement (translated). “We will help put forward the sense of community and the lively, trendy and urban character of the city.”
