CHUM ACQUIRES SEACOAST RADIO ASSETS
By Adnews Staff
Toronto-based Chum Limited has paid $7.5 million for the radio assets of Seacoast Communications Group of Victoria, BC. Seacoast owns and operates the news/talk radio station C-FAX AM and CHBE FM (B107.3), which plays pop music from the last 20 years. Chum has also agreed to purchase the assets of Seacoast Sound, a music production operation, for $500,000. Seacoast owner, chairman and CEO Mel Cooper, has signed a three-year contract with Chum to continue working at the stations as chair of community affairs. All Seacoast staff will be offered jobs with Chum, according to the company. The sale remains subject to CRTC approval.
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