OTTAWA – The CRTC has given the all clear to Rogers Media to proceed with its proposed acquisition of Medicine Hat station 102.1 CJCY from Clear Sky Radio for $4 million.
Currently, CJCY-FM (102.1 CJCY Classic Hits) serves communities in the southeastern area of Alberta, including Medicine Hat, Redcliff, Dunmore, Seven Persons and Bow Island. Rogers Media also owns CKMH-FM (105.3 ROCK) in Medicine Hat.
The Commission said Thursday that it has determined that the transaction is in the public interest, though increased the tangible benefits package to $247,183 (Rogers had proposed of $240,000), which it said equates to 6% of the value of the transaction, which the CRTC valued at $4.12 million.
Upon surrender of the current licence issued to Clear Sky, the Commission added that it will issue a new broadcasting licence to Rogers which will expire on August 31, 2024.
