TORONTO – Standard Radio announced last week it would be putting off its planned initial public offering.
The private company had planned to offer units of Standard Radio Income Fund but, "we chose not to proceed at this time for a bunch of reasons – the main one – the lousy market conditions," said Standard CEO Gary Slaight in an e-mail to Cartt.ca.
The Toronto-based company did not specify a date for commencing the marketing of the IPO, but said it has not withdrawn its preliminary prospectus filed with the Ontario Securities Commission.
As for the rumors (hope, maybe?) that Astral Media would purchase Standard, as was analyzed here last week? "No idea where the Astral rumour came from," said Slaight.
Standard has 51 radio stations located in five provinces and 29 markets across Canada, including Canada’s six largest metropolitan areas.
