Newcap takes a hit in Edmonton and is still looking to grow

DARTMOUTH – Thanks to new stations – from acquisitions and launches - radio broadcaster Newfoundland Capital Corporation saw a big jump in revenue in the first quarter of 2006, ended March 31st. Revenue grew by 18% compared to Q1 2005 to $18.6 million. EBITDA increased to $3.2 million from $3.1 million and net income of $1.2 million was $300,000 lower than last year primarily due to higher depreciation and interest costs related to recent acquisitions, says the press release. The company recently received CRTC approval to add three new FM radio licences to its portfolio, the right to convert an...