The CRTC has approved Durham Radio’s bid to purchase three of the 45 radio stations Bell Media plans to divest.
Durham has been granted new broadcasting licences for CKLY-FM Lindsay, and CKPT-FM and CKQM-FM Peterborough.
Valued at more than $2.1 million, the transaction includes the purchase price of $2M and another $110,000 in leases payable over five years.
In its application, Durham cited operational synergies, given the stations’ proximity to the company’s Durham Region headquarters, including shared management and creative resources.
Durham plans to maintain existing local programming levels, committing to 100 hours of local programming each broadcast week on each of the three stations, with a target to exceed that commitment, saying it plans to increase the local presence and coverage of Peterborough and Lindsay.
The commission has also approved Pattison Media’s bid to dissolve Radius Holdings, following its acquisition of CKOV-FM Kelowna from former Clear Sky Radio President Paul Larsen.
Pattison rebranded the station as OV 103-9, That ’70s station last April when the company initially closed on the sale.
As part of a corporate reorganization, Radius’ assets will be transferred to Pattison and Radius Holdings dissolved.
