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Newcap sells Fort McMurray radio station

Newcap, a subsidiary of Dartmouth-based Newfoundland Capital Corporation, has entered into an agreement to sell the broadcasting licence of radio station CHFT-FM in Fort McMurray, AB to Harvard Broadcasting of Regina. The deal remains subject to CRTC approval. Harvard already operates an FM station called Mix 103 in Fort McMurray. "This was a unique situation in a market where two stand-alone stations were up against a competitor with two FMs," said Newcap president and CEO Rob Steele. "It made sense for one of us to acquire the other to make the market a level playing field."

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