An anonymous director reports
NEWCAP RECEIVES CRTC APPROVAL TO ACQUIRE TWO RADIO STATIONS IN NEW GLASGOW, NS
Newfoundland Capital Corp. Ltd.'s its wholly owned subsidiary, Newcap Inc., has received approval from the Canadian Radio-television and Telecommunications Commission (CRTC) to acquire the assets of the radio stations CKEC-FM and CKEZ-FM, located in New Glasgow, N.S., owned by Hector Broadcasting Co. Ltd. As agreed by both parties, this transaction is expected to close after the completion of the plan of arrangement announced on May 2, 2018, under which Stingray Digital Group Inc. will acquire all the issued and outstanding shares of the company. This is expected to occur in the next three to six months.
About Newfoundland Capital Corp. Ltd.
Newfoundland Capital owns and operates Newcap Radio, which is one of Canada's leading radio broadcasters with 101 broadcast licences (72 radio stations and 29 repeating signals) across Canada.
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