Corus sells Quebec radio stations to Cogeco
By Adnews Staff
Corus Entertainment has reached an agreement to sell its Quebec radio stations to Cogeco. These stations include Montreal French-language stations CKOI 96.9, 98.5 and CKAC Sports, Montreal English-language station The Q 92.5, Quebec City stations 102.9 Souvenirs Garantis and CKOI 102.1, Sherbrooke stations 107.7 Souvenirs Garantis and CKOI 104.5, 104.7 Souvenirs Garantis in Gatineau, 106.9 Souvenirs Garantis in Trois-Rivières and CIME 103.9 in St-Jérôme. The transaction, which is still subject to regulatory approval, is valued at approximately $80 million. "Corus Entertainment has made the strategic decision to divest of its Corus Quebec radio stations and focus on brands in our television division and our Ontario and western Canadian radio stations," said John Cassaday, president and CEO of Corus Entertainment.