DARTMOUTH, NS, May 3, 2013 /CNW/ - Newfoundland Capital Corporation
Limited ("the Company") announced today that its wholly-owned
subsidiary, Newcap Inc., is no longer exploring the possible sale of
its western broadcasting assets which are located primarily in Alberta.
The Company was unable to reach an agreement at a value the Company
"We appreciate our employees being patient and understanding during this
process and I am proud to tell them they are still a part of the Newcap
family," commented Rob Steele, President and Chief Executive Officer.
"We look forward to continued success in Alberta."
About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) is one of
Canada's leading radio broadcasters with 86 licences across Canada.
The Company reaches millions of listeners each week through a variety
of formats and is a recognized industry leader in radio programming,
sales and networking.
SOURCE: NEWFOUNDLAND CAPITAL CORPORATION LIMITED
For further information:
Robert G. Steele, President and Chief Executive Officer, Scott G.M. Weatherby, Chief Financial Officer and Corporate Secretary, Newfoundland Capital Corporation Limited, 745 Windmill Road, Dartmouth, Nova Scotia B3B 1C2, Tel: (902) 468-7557, Fax: (902) 468-7558, e-mail: firstname.lastname@example.org, Web: www.ncc.ca