Newcap sells two Winnipeg Radio stations for $5.5 million

Newcap, owners of 81 radio stations across Canada, has announced it will sell its two radio stations in Winnipeg, Manitoba to Dufferin Communications Inc., a wholly-owned subsidiary of Evanov Radio Group.

Evanov will pick up CKJS AM and CHNK FM for $5.5 million.

CKJS is the only multilingual radio station in Manitoba serving more than twenty different ethnic groups. It presently has broadcasts in 19 languages and is found at 810 kHz on the AM band. CHNK or K-Rock is a mainstream rock station which broadcasts from 100.7 FM.

Newcap President and CEO Rob Steele said Newcap had decided to sell the Winnipeg stations because the company had been unable to grow its audience in Manitoba so it decided to redeploy its capital to other markets in Canada.

Evanov , which already owns future station CFJL 106.1 FM in Winnipeg, will now own three stations in the City. CFJL is an adult contemporary station which is expected to launch later this summer.

The deal, which is subject to CRTC approval, is expected to close before the end of this year.

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