Harry Steele, the former President of Newfoundland Capital Corporation, passed away Friday night. He was 92.
Born in Musgrave Harbour, NL in 1929, Steele served in the Royal Canadian Navy for 24 years, before becoming Vice-President of Newfoundland-based airline, Eastern Provincial Airways. Steele eventually acquired the company, which was later sold to Canadian Pacific Airways.
In 1981, he founded Newfoundland Capital which in addition to transportation and hotel interests, owned the Newcap Radio group and newspapers across the country. Steele served as company president, assuming the role of CEO and Chairman in 1993. He stepped down as CEO in 2002, continuing on as Chairman until 2018 when he retired at age 88.
When Newfoundland Capital was acquired by Stingray Digital Group for $523 million that same year, the company’s broadcast assets had grown to 101 licences, encompassing 72 radio stations and 29 repeater signals. Steele subsequently bought $25 million in Stingray stock.
Steele is a past governor of the Atlantic Provinces Economic Council. He was named an Officer of the Order of Canada in 1992.
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