TORONTO – CHUM Limited added to its stable of radio stations on Monday, announcing it has agreed to buy the radio assets of The Beat Broadcasting Corporation in Vancouver.
The company owns and operates Vancouver radio station CFBT-FM (The Beat 94.5 FM). The purchase price was not disclosed.
Launched in 2002, The Beat 94.5 is a CHR station that does well in the ratings. It serves Vancouver’s young adult audience, ranking number one in both adults and females in the 18-34 age demographic, says the press release.
BBM top line data shows the station with a 6.7 share in the last rating book, for A12+, placing it 6th in the market,
The Beat 94.5 will complement CHUM’s existing roster of AM and FM Vancouver stations that consists of 103.5 QM-FM, "Vancouver’s choice for Soft Favourites," CFUN 1410, "Vancouver’s New Talk" and The TEAM 1040, Sports Radio.
"This agreement is the culmination of long-term discussions between CHUM Radio and the principals at The Beat Broadcasting Corporation, says the press release.
"The Beat is a very attractive and strategic addition to our radio division," said Paul Ski, president, Radio, CHUM Limited. "With the acquisition of Vancouver’s No.1 hit music station, CHUM will be able to offer listeners and advertisers a compelling variety of services."
"We are excited that The Beat 94.5 will become part of the renowned CHUM group," said Barry Duggan, president, The Beat Broadcasting Corporation. "We have been operating successfully as a stand-alone FM station in one of Canada’s most competitive markets and now the future of The Beat 94.5 is secure. "
www.chumlimited.com
www.thebeat.com
