The CRTC on Thursday approved Stingray’s acquisition of Calgary’s CHUP-FM (C97.7) from Rawlco Radio.
The $6.1-million acquisition, announced in November, will see Stingray operate three FM stations (including CKMP-FM and CFXL-FM) in the competitive market served by 10 distinct radio ownership groups; allow Rawlco to focus operations on the Saskatchewan market; and generate $366,240 in tangible benefits to Canadian content funds.
Stingray proposed that it would operate CHUP-FM under the same conditions as those in effect under the current licence, which includes at least 40 per cent of its musical selections from popular music and special interest music combined to Canadian selections broadcast in their entirety.
“We are excited to expand our presence in the vibrant Calgary market,” Steve Jones, president of Stingray Radio, said at the time of the agreement. “C97.7 has built a strong connection with listeners and the community, and we are committed to continuing the fantastic legacy that the Rawlco Radio team started. This acquisition is a natural complement to our existing Calgary stations, strengthening our portfolio of high-quality radio stations and reinforcing our commitment to providing the best in local radio to audiences and businesses across Canada.”
