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Newfoundland Capital reports $8.7m profit

Media | 11/01/2013 6:42 pm EDT

Newfoundland Capital Corp. Ltd., the parent company of Newcap Inc., reported a profit of $8.7 million for the three-month period ending Sept. 30. The company said in a release that figure was $9.7 million higher than the $1.1 million loss it experienced for the same period a year earlier. It also reported that year-to-date profit was $16.7 million, $13.2 million higher than a year earlier. “Year-to-date profit in 2013 was higher than 2012 because last year's results included a $7.5 million impairment charge. In addition, the year-to-date provision for income tax expense was net...

Newcap selling Fort McMurray radio station

Media | 07/18/2013 9:36 pm EDT

Newcap, owned by Newfoundland Capital Corp., is selling its radio broadcasting licence for Fort McMurray’s CHFT-FM to Harvard Broadcasting Inc., Newcap said in a release. "This was a unique situation in a market where two stand-alone stations were up against a competitor with two FMs. It made sense for one of us to acquire the other to make the market a level playing field,” Newcap president and CEO Rob Steele said in a release. The CRTC still has to approve the deal, the release said....

Newcap radio acquisition approved, company says

Media | 12/17/2012 10:05 pm EST

The CRTC has given Newfoundland Capital Corp. Ltd. permission to acquire, in full, a radio station in Nova Scotia, the company said Friday. In a release, Newfoundland Capital Corp. (Newcap) said the CRTC gave it permission to acquire 70.1 per cent of 3221809 Nova Scotia Ltd., which operates the CKCH-FM radio station in Sydney, N.S. “This...