Newcap calls off Haliburton deal
By Adnews Staff
Newcap, a subsidiary of Dartmouth-based Newfoundland Capital Corporation, will not proceed with its plan to acquire 12 FM radio broadcasting licences from Haliburton Broadcasting Group. According to Newcap, the decision was mutual between the two companies. "While we view these radio stations as very attractive and assets we would like to own sometime in the future, in light of the seriously deteriorating credit markets, we have decided it is not the appropriate time to increase the debt levels of the company," said president and CEO Rob Steele.
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