DARTMOUTH – Newcap is selling its two Winnipeg-based radio stations to Evanov Radio Group subsidiary Dufferin Communications for $5.5 million.
The deal includes news station CKJS AM, K-Rock 100.7 (CHNK FM), and the new station CFJL 106.1 FM which is set to launch this summer.
"While we enjoyed being in Winnipeg, we have been unable to grow our presence in Manitoba and decided to redeploy our capital to other markets in Canada”, said president and CEO Rob Steele, in Thursday’s announcement. "We would like to thank all of our Winnipeg employees for their dedication and support over the years."
“Together, these three locally operated stations will become an integral part of the Winnipeg community”, said Evanov Radio Group president, Bill Evanov. “Over the years we have had a great relationship with Newcap and will continue their tradition of providing quality local radio services to the Winnipeg community."
The transaction, which remains subject to CRTC approval, is expected to close before December 31, 2011.
