Commission approves Newcap's Winnipeg purchase

DARTMOUTH, N.S. – The CRTC has approved Newcap Inc.’s $1.8-million purchase of Winnipeg station CHNR-FM “The Breeze” from CKVN Radiolink System Inc. The transaction, originally announced in February, is expected to close within 60 days. "The completion of this purchase is important to Newfoundland Capital because it represents the Company's first entry into Winnipeg, which was one of Canada's highest radio revenue growth markets last year," said Rob Steele, president and CEO, in a release. "This strategic acquisition represents another step in building a geographically diverse presence across Canada." Newcap “will continue its course of sourcing new, expanding markets that...