DARTMOUTH, NS, Nov. 7, 2013 /CNW/ - Newfoundland Capital Corporation
("NCC" or "Company") (TSX: NCC.A NCC.B) announced today that its
wholly-owned subsidiary, Newcap Inc., has received approval from the
Canadian Radio-television and Telecommunications Commission ("CRTC") to
sell CHFT-FM in Fort McMurray, Alberta to Harvard Broadcasting Inc.
This transaction, previously announced July 16, 2013, is expected to be
completed within the next 30 days.
President and Chief Executive Officer Rob Steele comments: "This was a
unique situation in a market where two stand-alone stations, Newcap's
and Harvard's, 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. We would like to thank all our employees for their
dedication and support since we launched K-Rock in this market in June
Cam Cowie Vice President and Chief Operating Officer for Harvard "We are
delighted with the announcement, the pairing of the two stations K-Rock
and Mix 103 will allow us to strengthen our commitment to the community
of Fort McMurray and the Rural Municipality of Wood Buffalo."
About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A NCC.B) operates
Newcap Radio, one of Canada's leading radio broadcasters with 87
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:
REF: 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: email@example.com, Web: www.ncc.ca. For further information: Cam Cowie, Vice President and Chief Operating Officer, Harvard Broadcasting Inc. Tel: (403) 692-1820 e-mail firstname.lastname@example.org