Newcap Radio receives CRTC approval to purchase station in Sydney

DARTMOUTH, N.S - Newfoundland Capital Corporation announced today its wholly-owned subsidiary, Newcap Inc, has received approval from the CRTC for the purchase of 70.1% of the shares of Nova Scotia Limited which holds the CKCH-FM radio broadcast licence in Sydney, Nova Scotia. This transaction increases Newcap's ownership interest to 100% and is expected to be completed within the next 60 days. "The acquisition of The Eagle in Sydney provides a great complement to our existing station, The Giant, and we look forward to expanding our presence in the community," commented Rob Steele, President and Chief Executive Officer of NCC.