Cogeco and Corus Entertainment yesterday announced the sale of Corus' Quebec radio stations to Cogeco Inc. for $80 million has closed.
The deal was approved by the CRTC in December after Cogeco agreed to establish a news agency called Cogeco Nouvelles, which will provide local stations with talk-radio content, and to divest itself of three stations to avoid concentration of ownership.
The deal saw Cogeco acquire Montreal stations CKAC-AM, CFQR-FM, CHMP-FM, CKOI-FM and regional stations CFEL-FM and CFOM-FM in Québec City, CHLN-FM in Trois-Rivières, CHLT-FM and CKOY-FM in Sherbrooke, CIME-FM in St-Jérôme and CJRC-FM in Ottawa-Gatineau.
Cogeco will divest two FM radio stations in the Quebec City market CFEL-FM and CJEC-FM and one FM station in the Sherbrooke market (Radio Sherbrooke 104.5 FM).
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