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Quebec radio acquisition approved

Media | 05/19/2015 5:35 pm EDT

The CRTC said Tuesday it has approved the sale of a Quebec radio-station operator with certain conditions. Attraction Radio Inc. is buying Gestion Appalaches Inc., which operates CKLD-FM and CFJO-FM, both in Thetford Mines, as well as CFDA-FM in Victoriaville. Attraction Radio is controlled by Richard Speer and Gestion Appalaches by François Labbé, the CRTC said in its decision Tuesday. The CRTC assessed the value of the transaction at $6.2 million and has ordered Attraction to pay six per cent of that value, or $374,500, into a tangible benefits package spanning seven years that "will provide Canadians with a range of programming choices and Canadian creators with more opportunities to showcase their talent." The CRTC noted that Attraction Radio currently operates CKYQ-FM in Plessisville, which overlaps with almost...