Broadcasting leads Q1 growth at NewCap

DARTMOUTH, NS - Newfoundland Capital Corporation (NewCap) saw its revenue grow 6% for the first quarter of 2009, led primarily by its broadcasting division. For the quarter ended March 31, 2009, the radio company reported consolidated revenue of $23.1 million, up $1.4 million from the first quarter of 2008. Its broadcasting segment, which derives its revenue from advertising sales from its 81 licences across the country, saw year-over-year growth of 6%, to top $22.3 million. Revenue from its corporate segment was $0.9 million - 17% higher than last year - due to increased hotel revenue. NewCap’s corporate segment derives its...