Jim Pattison Broadcast Group buys Fabmar Communications
The Jim Pattison Broadcast Group, based in Kamloops, BC, has acquired Fabmar Communications of Melfort, SK. Fabmar operates four radio stations in British Columbia, Alberta and Saskatchewan, including 89.5 The Drive in Chilliwack, XM 105 FM in Melfort, 105 CJVR and CK750. According to the company, the purchase will allow Pattison to expand its operations in western Canada.
As part of the deal, Pattison has also agreed to purchase FabVision, an outdoor signage company in Saskatchewan, and online news properties Mychilliwacknews.com, Mytowntoday.ca and Yourtownnews.ca. The deal remains subject to CRTC approval.
"This is an extremely important acquisition between our two broadcasting companies, offering us the opportunity to add operations that operate under similar values, vision and culture to our own," said Rod Schween, president of the Jim Pattison Broadcast Group. "We are very enthusiastic to work with, and learn from, our new valued team members and local management. Subject to regulatory approval of this acquisition, we are confident that it will benefit the Canadian radio industry as a whole and will allow Pattison to continue competing against some of Canada’s largest national players who are well-established in the west."