OTTAWA – The CRTC has given its blessing to Cogeco’s plan to buy 10 French-language regional radio stations in Quebec and Ontario from RNC Media.
The new stations are located in Saguenay–Lac-Saint-Jean (Planète 104.5 in Alma, Planète 93.5 in Chibougamau, Planète 99.5 in Roberval, Planète 100.3 in Dolbeau-Mistassini, and Radio X 95.7 in Saguenay), in Abitibi-Témiscamingue (Capitale Rock 104.3 in Val-d’Or, Capitale Rock 102.1 in La Sarre, and WOW 96.5, in Val-d’Or), in Lachute (Pop 104.9) and in Hawkesbury (Pop 102.1).
The Commission said Thursday that it "considers that the RNC stations integrated into Cogeco could benefit from economies of scale and Cogeco’s resources to maximize advertising revenues, which would contribute to the financial viability of these stations”.
It also approved the $18.5M purchase price of the stations’ assets and Cogeco Media’s $19.7M valuation of the transaction (which includes the assumed leases), as well as the tangible benefits package of $1.18M.
Upon surrender of the current licences issued to RNC, the Commission added that it will issue new broadcasting licences to Cogeco.
