Stingray Radio: Difference between revisions

| name = NewfoundlandStingray CapitalRadio Corporation LtdInc.

| logo = NewcapradioStingray logoDigital.pngsvg

| fate = Acquired by [[Stingray Digital]]

| trade_nametype = Newcap Radio = [[Subsidiary]]

| foundationtrade_name = 1986Newcap Radio (1986–2018)

| key_people = [[Harold R. Steele]] (chairman)<br/>Robert G. Steele ([[president (corporate title)|president]] and [[chief executive officer|CEO]])

| services = [[Radio broadcasting]], [[television broadcasting]], [[hospitality]]

| owner = [[Stingray Group]]

| homepage = {{url|www.stingray.com/radio}}

| dissolved = October 26, 2018

'''Newfoundland Capital Corporation Ltd.''', [[operating as]] '''NewcapStingray Radio''', wasis a [[Canada|Canadian]] [[radio]] broadcasting conglomerate basedowned inby [[Halifax, NovaStingray ScotiaGroup]]. FoundedIt byowns [[Haroldand R. Steele]], the company ownedoperates 101 radio stations in Canada (makingCanada—making it the second-largest radio conglomerate in Canada behind [[Bell Media]]). particularlyIt also owns two television stations in Newfoundland[[Lloydminster]]. andThe Labrador,majority of its stations are situated in [[Atlantic Canada|Atlantic]] and Alberta[[Western Canada]], aswith wellits aslargest twopresences television stationsbeing in the provinces of [[LloydminsterAlberta]] and [[Newfoundland and Labrador|Newfoundland]].

In 1986, NCCL received [[Canadian Radio-television and Telecommunications Commission|CRTC]] approval to acquire its first radio station, [[CHTN-FM|CHTN]] in [[Charlottetown]], [[Prince Edward Island]], from Northumberland Broadcasting Ltd. By 2008, Newcap would own over 70 radio stations, and flipped many radio stations from the AM band to the FM band.

In July 2008, Newcap announced a deal to trade [[CFLT-FM|CFDR]] in [[Halifax, Nova Scotia|Halifax]] to [[Rogers Sports & Media|Rogers Media]] in exchange for [[CIGM-FM|CIGM]] in [[Greater Sudbury|Sudbury]]. Both stations were the sole remaining AM stations in their respective markets, and in both cases the current owner already had the maximum permitted number of [[FM broadcasting|FM]] stations in the applicable market, whereas the acquirer only had a single FM station. Both companies successfully applied to move the stations to FM as part of the trade. Newcap flipped CIGM Sudbury to FM on August 25, 2009, and Rogers flipped CFDR Halifax to FM on August 7, 2009.<ref>[http://www.northernlife.ca/News/LocalNews/2008/07-24-08-radio.aspx?NLStory=07-24-08-radio "Local country station will be converted to FM"], ''[[Northern Life (newspaper)|Northern Life]]'', July 24, 2008.</ref>

On July 28, 2008, Newcap Inc. announced that it had a tentative deal to acquire 12 stations in [[Ontario]] from [[Haliburton Broadcasting Group]], subject to CRTC approval, for $18.95 million.<ref>[http://novascotiabusinessjournal.com/index.cfm?sid=156981&sc=107 Newcap signs agreement to acquire 12 radio licences in Ontario]{{Dead link|date=November 2018 |bot=InternetArchiveBot |fix-attempted=yes }}, ''The Nova Scotia Business Journal'', July 28, 2008.</ref> The company's application to acquire the Haliburton stations was formally published by the CRTC on November 13, 2008,<ref>[http://www.crtc.gc.ca/archive/ENG/Hearings/2008/n2008-14.htm#24 Broadcasting Notice of Public Hearing CRTC 2008-14]{{Dead link|date=April 2019 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> but was subsequently withdrawn in January 2009.<ref>[http://www.crtc.gc.ca/eng/archive/2008/n2008-14-7.htm Broadcasting Notice of Public Hearing CRTC 2008-14-7]</ref> Newcap Inc.[[Chief executive officer|CEO]] Rob Steele indicated that in light of the [[credit market]] crisis, the company did not feel that it was the right time to increase its debt load.<ref>"Credit markets squelch $19M Newfoundland Capital radio purchase in Ontario", [[Canadian Press]], January 19, 2009.</ref>

In May 2011, Newcap announced that it was selling its two stations in [[Winnipeg]], [[CKJS]] and [[CFJL-FM|CHNK-FM]], to [[Evanov Radio Group|Evanov Communications]];<ref>[http://www.newswire.ca/en/releases/archive/May2011/19/c6076.html Newfoundland Capital press release, via Canadian Newswire: "NEWCAP to Sell Winnipeg Radio Stations", May 19, 2010.] {{webarchive|url=https://web.archive.org/web/20110528091745/http://www.newswire.ca/en/releases/archive/May2011/19/c6076.html |date=May 28, 2011 }}</ref> the sale was approved on October 24, 2011.<ref>[http://www.crtc.gc.ca/eng/archive/2011/2011-661.htm Broadcasting Decision CRTC 2011-661]</ref>

In January 2013, the company announced it was exploring a possible sale of its remaining broadcasting assets in [[westernWestern Canada]], consisting of 32 radio stations and two television stations, and six rebroadcasters associated with those stations. These stations are predominantly in [[Alberta]] (including several stations in the [[Lloydminster]] region on the Alberta/[[Saskatchewan]] border), except for two stations in [[British Columbia]]. The company announced in May 2013 it was no longer planning to sell its assets in Western Canada.<ref>{{cite web|url=http://www.newswire.ca/en/story/1158451/newfoundland-capital-corporation-limited-no-longer-exploring-the-sale-of-alberta-broadcasting-division|title=Newfoundland Capital Corporation Limited no longer exploring the sale of Alberta Broadcasting Division|date=3 May 2013|accessdateaccess-date=26 August 2013}}</ref> If such a sale had occurred, Newcap suggested that the proceeds might be used to either fund acquisitions "closer to [Newcap's] base in Atlantic Canada", pay down debt, or return capital to shareholders.<ref>{{cite web|url=http://www.newswire.ca/en/story/1102709/newfoundland-capital-corporation-limited-exploring-the-sale-of-alberta-broadcasting-division|title=Newfoundland Capital Corporation Limited Exploring the Sale of Alberta Broadcasting Division|author=Newfoundland Capital Corporation Ltd. (press release)|date=2013-01-22|accessdateaccess-date=2013-01-22}}</ref>

On August 26, 2013, Newcap Radio announced it would acquire fivefour former [[Astral Media]] radio stations in [[Toronto]] and [[Vancouver]], including [[CHBM-FM]], [[CFXJ-FM]], [[CKZZ-FM]], [[CHHR-FM]] and [[CISL (AM)|CISL]], along with [[Bell Media]]'s [[CFXJ-FM]], for $112 million. The deal was made in the wake of [[Bell Media]]'s acquisition of the companyAstral.<ref>{{cite web|url=http://www.newswire.ca/en/story/1215153/newcap-signs-agreement-with-bell-media-to-acquire-five-radio-stations-in-toronto-and-vancouver|title=Newcap signs agreement with Bell Media to acquire five radio stations in Toronto and Vancouver|publisher=CNW|accessdateaccess-date=26 August 2013}}</ref> The deal was approved by the [[Canadian Radio-television and Telecommunications Commission|CRTC]] on March 19, 2014 and the sale closed on March 31, 2014.<ref>[http://crtc.gc.ca/eng/archive/2014/2014-129.htm Broadcasting Decision CRTC 2014-129]</ref><ref>{{cite web|url=http://www.newswire.ca/en/story/1325013/newcap-radio-receives-crtc-approval-to-purchase-stations-in-toronto-and-vancouver|title=Newcap Radio receives CRTC approval to purchase stations in Toronto and Vancouver|work=Canada Newswire|date=March 19, 2014|accessdateaccess-date=March 20, 2014|archive-date=March 20, 2014|archive-url=https://web.archive.org/web/20140320112553/http://www.newswire.ca/en/story/1325013/newcap-radio-receives-crtc-approval-to-purchase-stations-in-toronto-and-vancouver|url-status=dead}}</ref>

On April 25, 2017, [[Rogers Sports & Media|Rogers Media]] announced its intent to acquire [[CISL (AM)|CISL]] from Newcap, withwho plans to turnrelaunched it intoas a [[Sportsnet Radio]] sports talk station andwith flagshiprights ofto the [[NHL]]'s [[Vancouver Canucks]].<ref name="theprovince-cislsn">{{cite web|title=Sportsnet launching all-sports radio station in Vancouver|url=https://theprovince.com/sports/sportsnet-launching-all-sports-radio-station-in-vancouver|website=The Province|publisher=Postmedia|accessdateaccess-date=25 April 2017}}</ref>

On May 2, 2018, cable radio broadcaster [[Stingray Digital]] announced its intent to acquire Newcap Radio for $506 million.<ref name="gandm-stingraynewcap">{{Cite news|url=https://www.theglobeandmail.com/business/article-stingray-digital-pushes-into-radio-with-purchase-of-newfoundland/|title=Stingray Digital pushes into radio with $506-million purchase of Newfoundland Capital|work=[[The Globe and Mail]]|access-date=2018-05-06}}</ref> On October 23, 2018, the CRTC approved Stingray's application to acquire Newcap.<ref>[https://crtc.gc.ca/eng/archive/2018/2018-404.htm Broadcasting Decision CRTC 2018-404], Various radio and television broadcasting undertakings – Change in ownership and effective control, ''CRTC'', October 23, 2018</ref> The sale was completed just days later on October 26, 2018, with the Steele family holding the largest stake in the company besides its founders.<ref>{{Cite web|url=http://vocm.com/news/crtc-approves-506-million-sale-of-newcap-radio-to-stingray/|title=CRTC Approves $506-Million Sale of Newcap Radio to Stingray|website=VOCM|language=en-US|access-date=2018-10-31|archive-url=https://web.archive.org/web/20190708103926/http://vocm.com/news/crtc-approves-506-million-sale-of-newcap-radio-to-stingray/|archive-date=2019-07-08|url-status=dead}}</ref><ref>{{Cite web|url=http://vocm.com/news/crtc-approves-506-million-sale-of-newcap-radio-to-stingray/|title=CRTC Approves $506-Million Sale of Newcap Radio to Stingray|website=VOCM|language=en-US|access-date=2018-10-31|archive-url=https://web.archive.org/web/20190708103926/http://vocm.com/news/crtc-approves-506-million-sale-of-newcap-radio-to-stingray/|archive-date=2019-07-08|url-status=dead}}</ref>

*[[Marystown]] - [[CHCM|CHCM-FM]]

*[[St. Andrew's, Newfoundland and Labrador|St. Andrew's]] - [[CFGN-FM|CFCV-FM]]

*[[New Glasgow, Nova Scotia|New Glasgow]] - [[CKEZ-FM]], [[CKEC-FM]].

*[[Bonnyville, Alberta|Bonnyville]] - [[CJEG-FM]]

*[[Drumheller]] - [[CKDQ]], [[CHOO-FM]]

*[[Edmonton]] - [[CIRK-FM]], [[CKRA-FM]], [[CFCW (AM)|CFCW]], [[CKJR]]

*[[Hinton, Alberta|Hinton]] - [[CFHI-FM]], [[CFXE-FM|CFXH-FM]]

*[[Slave Lake, Alberta|Slave Lake]] - [[CHSL-FM]]

The [[numbered company]] '''3937844 Canada Inc.''', a partnership between Newcap and [[Standard Broadcasting]], was the licensee for most of the Alberta stations listed above from 2002, when Standard acquired the stations from [[Telemedia]], until 2007, when Newcap bought out Standard's share of the stations.

[[Category:Entertainment companies established in 19861980]]

[[Category:EntertainmentMass media companies disestablishedestablished in 20181980]]