Newcap, Rogers to swap stations
Newcap, a subsidiary of Dartmouth-based Newfoundland Capital, has formed an agreement with Rogers Broadcasting to exchange two radio stations. Under the terms of the agreement, which is subject to CRTC approval, Newcap will exchange its CFDR AM station in Halifax for the Rogers station CIGM AM in Sudbury, ON, plus $5 million. Both companies have also submitted applications to convert the stations from AM to FM. "This is a wonderful opportunity for Rogers to expand our presence in the Halifax market," said Paul Ski, Radio CEO at Rogers. "We already operate News 95.7 and this new licence will complement this holding and will allow us to better serve our listeners in the market."