CRTC approves Newcap's Red Deer purchase

GATINEAU and DARTMOUTH – The CRTC announced today it approved the sale of CIZZ-FM and CKGY-FM in Red Deer, Alberta by Corus Entertainment to Newcap Inc. The $8.4 million transaction is expected to close within 60 days. "The completion of this purchase is very significant to Newfoundland Capital," said Rob Steele, president and CEO of NCC, in a release. "It represents an opportunity to provide our customers with even greater coverage in the province". Newcap has a strong presence in Alberta, already serving 22 communities there. Red Deer is the third largest city in Alberta and is an important base...