Newcap, a subsidiary of Dartmouth-based Newfoundland Capital Corporation, has received approval from the CRTC to operate a new FM radio licence in Fredericton, NB. "We are extremely pleased to be awarded a second FM to serve the Fredericton community and we will proceed to launch this station as soon as possible," said Rob Steele, president and CEO of Newfoundland Capital. "The new station will be broadcast at 93.1 FM and will be a perfect complement to our existing 92.3 Fred FM."