Newcap buys FM station in Sydney
Newfoundland Capital Corporation, through its subsidiary Newcap, has received approval from the Canadian Radio-television and Telecommunications Commission to acquire the FM broadcast licence of CKCH-FM in Sydney, NS. Newcap will purchase 70.1% of the shares of 3221809 Nova Scotia Ltd., the company which currently holds the licence, giving Newcap 100% ownership. The transaction is expected to be completed within 60 days. "The acquisition of The Eagle in Sydney provides a great complement to our existing station, The Giant, and we look forward to expanding our presence in the community," said Rob Steele, president and CEO of Newfoundland Capital.