Jim Pattison Group to buy three FM stations from Bell, Astral
The Jim Pattison Broadcast Group of Kamloops, BC has signed agreements to purchase three FM radio stations. The company will buy Kool FM 101.5 in Calgary and FAB 94.3 in Winnipeg from Bell Media, and QX 104 in Winnipeg from Astral Media. The agreements, which remain subject to regulatory approvals, are a result of the need for Astral and Bell Media to divest themselves of several properties to meet CRTC conditions for their merger. "This is a very important acquisition for our group and, with the approval of this transaction from the CRTC, we will expand our presence in the major markets of Calgary and Winnipeg, which we have been focusing on for some time," said Rick Arnish, chairman of Jim Pattison Broadcast Group. "With the pending launch of our newest station 95.3 The Peak in Calgary, combining forces with Kool FM will allow our group to have a very strong competitive FM radio combo in Alberta's fastest-growing city. We're also very excited about the opportunity to expand in western Canada and specifically into the Winnipeg radio market with two separate stations. We are really looking forward to working with the teams at these separate Winnipeg operations as we expand into a new marketplace for our group."