Newcap buys two BC radio licences
By Adnews Staff
Dartmouth-based Newfoundland Capital subsidiary Newcap has entered into agreements to acquire the radio broadcasting licences CKKO FM in Kelowna, BC and CIGV FM of Penticton, BC, as well as the latter station's two repeater licences. The agreements remain subject to CRTC approval. "These licences are a great fit for our company," said president and CEO Rob Steele. "It is in a growing area of the country and gives us a presence in British Columbia's Okanagan Valley. There is potential for growth and we expect these acquisitions to be cash accretive in the near term." No financial details are available.
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