There is a major shake up in the local, and national radio scene. On May 2, 2018, Stingray Digital announced its acquisition of Newcap Radio for $506 Million pending CRTC approval. The acquisition marked Stingray's entrance into the radio industry with 101 broadcasting licenses across Canada
Newfoundland Capital Corporation is selling its radio operations to Stingray Digital Group Inc pending CRTC approval. Montreal-based Stingray is a world-leading provider of multi-platform music and video services with clients in 150 countries.
The deal includes Steele Communications in Newfoundland and Labrador which operates VOCM, K-Rock, Hits FM, KIXX Country and Big Land FM. It also owns radio stations in BC., Alberta, Ontario, NS, NB, and PEI.
VOCM - Stingray To Buy Steele Communications? Parent Company
This is the company’s first foray into radio.