CRTC approves sale of Newcap Radio to Stingray

OTTAWA – The CRTC has given the green light to Stingray Digital Group’s plan to buy Newfoundland Capital Corporation (NCC, or as it’s more commonly referred in the radio business, Newcap), for $506 million.The deal, first announced in May, includes 101 radio licences (82 FM and 19 AM) across the country, as well as conventional television stations CITL-DT and CKSA-DT Lloydminster, and the rebroadcasting transmitter CKSA-TV-2 Bonnyville, AB.The Commission said Tuesday that it has determined that the deal is in the public interest, saying that its approval of the proposed transaction “would allow the acquired stations to benefit from Stingray’s expertise...