ASTRAL MEDIA, CORUS ENTERTAINMENT TO EXCHANGE ASSETS
By Adnews Staff
Montreal-based Astral Media and Toronto-based Corus Entertainment have formed an agreement to exchange radio assets in Quebec. Astral's seven AM stations and CFOM-FM in Quebec City will become part of Corus Entertainment's radio division. Five Corus-owned FM stations will become part of Astral Media Radio. The transaction, still subject to regulatory approval, is expected to close later this year. The seven Astral stations are: CKAC-AM (Montreal), CHRC-AM (Quebec City), CJRC-AM (Hull/Gatineau), CKRS-AM (Chicoutimi), CHLN-AM (Trois Rivières), CHLT-AM (Sherbrooke) and CKTS-AM (repeater station, Sherbrooke). The five Corus stations are CJOI-FM (Rimouski), CIKI-FM (Rimouski), CFVM-FM (Amqui), CFZZ-FM (St. Jean-sur-Richelieu) and CJDM-FM (Drummondville).