Jim Pattison's broadcast group is acquiring three radio stations in Calgary and Winnipeg from Bell Media and Astral, the company announced this morning.
The Bell Media stations to be acquired are:
- Kool FM 101.5 (CKCE-FM) – a contemporary format radio station in Calgary; and
- FAB 94.3 (CHIQ-FM) – a classic pop radio station in Winnipeg.
The third station, to be acquired from Astral, is:
- QX 104 (CFQX-FM) – a country music station in Winnipeg.
The company did not announce the values of the deals.
The proposed merger of Bell Media and Astral is forcing the two companies to sell off a number of radio stations in order to comply with the Canadian Radio-television and Telecommunications Commission's (CRTC) common ownership policy, which limits the number of stations a company can own in a single market.
Pattison's purchase of the stations is subject to approval from the CRTC and contingent on CTRC approval of the Bell-Astral merger.
Chris Gordon, president of radio and local TV at Bell Media, said, "While a necessary outcome of our plan to join with Astral, the decision to sell these stations wasn't easy.
"Each is a strong performer in its respective market, and they will undoubtedly strengthen Pattison's growing portfolio of media assets."
Rod Schween, president of Pattison Broadcasting, said, "We're just delighted that we are being given this opportunity to expand our radio reach in western Canada, and the addition of these stations will definitely strengthen our group."
