Cogeco sells off two Quebec City area FM stations, renews $100M credit facility

MONTREAL - Cogeco Diffusion said Wednesday that it has sold two of its four Québec City region FM radio stations to Leclerc Communication Inc. Financial terms of the deal were not disclosed. The sale of CJEC-FM and CFEL-FM comes at the behest of the CRTC which required Cogeco to sell off some of the stations that it acquired from Corus in order to comply with the common ownership policy in the Québec City and Sherbrooke markets. The company said in a statement that proceedings for the sale of CJTS-FM in Sherbrooke are continuing. In other company news, Cogeco Inc. has...