Rogers Communications Inc. (ticker: RCI.B.TO, exchange: Toronto Stock Exchange (.TO))
News Release -
Rogers Broadcasting Acquires RAWLCO's Calgary StationsTORONTO, May 14 /CNW/ - Rogers Broadcasting Limited today announced the
acquisition of two Calgary radio stations, CKIS-FM and CFFR-AM, from RAWLCO
Communications Ltd. Financial terms were not disclosed and the sale is subject
to CRTC approval.
``CKIS and CFFR are terrific stations and will complement our existing
stations, CFAC-AM and CHFM-FM,'' said Tony Viner, President & CEO, Rogers
Broadcasting Limited. ``With this acquisition, we've now achieved our
objective of increasing our presence in four key markets: Toronto, Vancouver,
Ottawa, and Calgary.'' CRTC regulations were changed in 1998 to allow multiple
ownership (2 AM/2 FM) in a market.
``The decision to sell our Calgary radio stations was a very difficult
decision,'' Gordon Rawlinson, President of RAWLCO Communications Ltd. said.
``Both stations have great staffs and everyone has worked hard to make them
successful. We are very proud of these two great radio stations. We have
looked into all possible alternatives, and it has become quite clear that it
is in the best interest of our company, our staff, our listeners and our
clients, to team up with another successful broadcaster. I am thrilled that we
have been able to join our stations in Calgary with the Rogers stations in
Calgary. This will give Calgary listeners and advertisers, four very solid
Mr. Rawlinson confirmed that RAWLCO will continue to operate their
stations until CRTC approval is granted.
Rogers Broadcasting Limited operates 19 radio stations (nine AM and ten
FM) throughout Canada and has applied for eight additional stations in Smiths
Falls, Ottawa, Toronto, Chilliwack, Hope and Abbotsford subject to CRTC
approval. Rogers Broadcasting Ltd. is a division of Rogers Communications
Inc., (Toronto: RCI.A and RCI.B; NYSE: RG) Canada's national communications
company engaged in wireless communications, cable television and in radio and
television broadcasting, publishing and new media.
RAWLCO Communications owns radio stations in Toronto, Ottawa, Regina,
Saskatoon and Prince Albert.
For further information: please call: Anthony P. Viner, President & CEO,
Rogers Broadcasting Limited, (416) 864-2142; Gordon Rawlinson, President,
RAWLCO Communications Ltd., (403) 291-0000