The CRTC has approved two radio ownership transactions that will see Stingray Radio acquire C97.7 (CHUP-FM) Calgary from Rawlco Radio, and Rawlco subsequently take over 92.9 The Bull (CKBL-FM) in Saskatoon.
C97.7, with a proposed purchase price of $6.1M, currently airs a “90s & Now” Hits format. Solidifying Stingray’s position as the largest radio station operator in the country, bringing its number of stations to 97, CHUP-FM joins the company’s two other signals in the market, 90.3 AMP Radio (CKMP-FM) and XL 103 (CFXL-FM).
The divestiture sees Rawlco exit Alberta. Its acquisition from Saskatoon Media Group, meanwhile, is valued at $5.075M.
92.9 The Bull currently carries a Country format and joins Rawlco’s other stations in the market – C95 FM (CFMC-FM), which airs a Hot AC format; Active Rocker ROCK 102 FM (CJDJ-FM); and news/talk/sports station 650 CKOM (CKOM-AM).
The transaction leaves Saskatoon Media Group with just two remaining stations – Classic Hits station 98COOL (CJMK-FM) and Country 600 CJWW. Saskatoon Media Group is owned by Golden West Broadcasting CEO Elmer Hildebrand, but its holdings are separately maintained.
