CRTC refusal to grant ownership exception kills Quebec radio deal

MONTREAL — Leclerc Communication has decided to abandon its deal to acquire two Quebec radio stations after the CRTC refused to approve a key part of the deal on Tuesday.Leclerc had sought an exception to the CRTC's common ownership policy in order to control a third French-language FM radio station in Quebec City — top-rated talk station CHOI-FM. It had agreed to acquire CHOI and Montreal's CKLX-FM from RNC Media for $19 million last year.At the CRTC hearing in February, Leclerc vice-president Jean-François Leclerc made clear that if the request for an exception to the rules wasn't granted, it would...