TORONTO – Rogers Media is buying Tillsonburg Broadcasting Company Limited (TBCL) as it adds to its radio assets in Southwestern Ontario. Financial terms of the deal were not disclosed.
Family-owned and operated TBCL owns the radio broadcasting licenses CJDL-FM (Country 107.3) and CKOT-FM (Easy 101) that services markets including Tillsonburg plus larger centres like London, Kitchener-Waterloo, Woodstock, and St. Thomas. Rogers already owns four stations in that region: CHST-FM (102.3 Jack FM) in London and CKGL (570 NEWS), CHYM-FM (CHYM 96.7), and CIKZ-FM (Country 106.7) in Kitchener.
Along with the current team, part-owner and general manager Carolyn Lamers will remain with the stations to assist with the transition of ownership and contribute to future growth, reads Tuesday’s news release. Closing of the transaction is expected to occur by early 2017, and is subject to CRTC approval.
“The Lamers family has built two of the strongest and most beloved radio stations in Southwestern Ontario, and I thank TBCL president John Lamers for giving Rogers the opportunity to continue building on his family’s history,” said Rogers Radio SVP Julie Adam, in the release. “Continuing to grow our presence in Southwestern Ontario is a focus for Rogers Radio, and it will be our goal to continue to serve the community and listeners in these markets with the same high level of quality programming. We are strong believers in the future of radio, and this purchase is part of our strategic plan to grow and expand our business in key markets.”
"Our loyal audiences and advertisers will be in good hands with a company like Rogers that also has a long history and commitment to radio", added TBCL president and majority shareholder John Lamers.
Rogers Radio currently owns 51 AM and FM radio stations across Canada.
