Acadia Broadcasting reorganizing operations

Acadia Broadcasting Ltd. is asking the CRTC for the authority to acquire the assets of multiple English radio stations in Atlantic Canada and Ontario as part of a corporate reorganization. In a notice of hearing from the CRTC posted Thursday, the commission said the transaction by Acadia -- which is owned 50/50 by Black-Tip Investments Limited and Rosa Rugosa Investments Limited -- would not affect the control of the stations, which are effectively overseen by John K.F. Irving and Anne C.I. Oxley, respectively, as the heads of both groups. “The application relates to a simple internal reorganization which, while technically is a transfer that requires CTRC approval, will not result in any actual changes for Acadia,” Chris Pearson, president of Acadia, said in an email to the Wire Report. “The Acadia stations will continue to have the same owners and employ the same people and will continue to deliver the same quality locally focused programming that we are known for.” Two of the licenses for CJLS-FM Yarmouth, Nova Scotia, and CKBW-FM in the South Shore area of the province, are apparently non-compliant with Canadian content development contribution regulations, the commission said, which will be examined as part of the application. Two other Halifax stations -- CKHZ-FM and CKHY-FM -- may also be included in the upcoming acquisition hearing as the CRTC approved a separate application from Acadia on April 26 to acquire the stations from HFX Broadcasting Inc., majority-owned by the Evanov Radio Group. A notice of hearing on that acquisition indicates the asset purchase and sale agreement for the deal said Acadia would purchase the stations for $4.5 million. As part of that decision, the commission denied Acadia’s requests for an exemption from paying tangible benefits and its request to delete or amend their respective conditions of licence for broadcasting popular Canadian music, though it did approve its request to delete CKHY’s condition relating to special interest music. The CRTC notice posted Thursday said Acadia also committed to taking on unfulfilled tangible benefits from previous transactions. The deadline for interventions is June 7. On July 8, the CRTC will hold the hearing on the application.

Acadia Broadcasting reorganizing operations

Brief | May 7, 2021

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Acadia Broadcasting reorganizing operations

Brief | May 7, 2021

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