The CRTC last week approved separate applications by Lakeside Radio Broadcasting Corp. and FAB Broadcasting Corp. — both owned by London Publishing Corp. — to change the ownership and effective control of radio stations in Kincardine and Listowel, Ontario, respectively.
With the approval of Lakeside’s application, parent company London Publishing is acquiring Gregory Hetherington’s 47.4-per-cent share of Lakeside, giving Raymond Stanton effective control of classic rock radio station CIYN-FM Kincardine (operating as Shoreline Classics FM) and its transmitters CIYN-FM-1 Goderich and CIYN-FM-2 Port Elgin, Ontario.
Based on a CRTC-revised transaction value of $312,000, Lakeside is required to pay $18,722 in tangible benefits in equal instalments over seven consecutive broadcast years, allocated to various Canadian content development (CCD) funds, including the Canadian Starmaker Fund, Fonds RadioStar, FACTOR, Musicaction, the Community Radio Fund of Canada, and any eligible CCD initiative at Lakeside’s discretion.
Lakeside has said it is committed to the value of local radio and to continuing support of CIYN-FM’s newsroom resources to maintain local news and content. Although the CRTC’s commercial radio policy does not specify a minimum level of weekly news to be broadcast, the commission reminds Lakeside that its station’s programming must include local news, weather, sports coverage and the promotion of local events. In addition, at least five per cent of the CIYN-FM’s musical selections each broadcast week should be devoted to selections from Canadian emerging artists, and indigenous music selections should be included on its playlist.
The CRTC’s approval of FAB Broadcasting’s application clears the way for London Publishing to acquire GregRadio Corp.’s 47.4-per-cent share of FAB, giving Raymond Stanton effective control of country music station CHLP-FM Listowel (100.1 The Ranch). Given a transaction value of $363,240, as determined by the CRTC, FAB is required to allocate $21,794 in tangible benefits in equal instalments over seven broadcast years to the previously mentioned CCD funds.
FAB has also said it will continue support of CHLP-FM’s newsroom resources to maintain local news and content. It is reminded by the CRTC to include local news, weather, sports coverage and promotion of local events in the station’s programming. It is also expected to devote five per cent of CHLP-FM’s musical selections each broadcast week to Canadian emerging artists and to include indigenous music selections in its playlist.
