Stingray poised for “new levels of growth and success” after wrapping up Newcap Radio deal

NCC’s president and CEO Rob Steele steps downMONTREAL and DARTMOUTH – Stingray Digital Group officially completed its $506 million acquisition of Newfoundland Capital Corporation (NCC) Friday, creating what it described as Canada’s largest public independent media company.NCC owns and operates two TV stations as well as Newcap Radio and its 101 broadcast licences (72 radio stations and 29 repeating signals) in seven provinces across the country and has approximately 800 employees. First proposed in May, the deal received CRTC approval earlier this week.Friday’s announcement said that Rob Steele has stepped down as president and CEO of NCC, while COO Ian...