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Newfoundland Capital Corporation Limited ( , ), doing business as Newcap Broadcasting, is a major Canadianmarker broadcasting company. Harold R. Steele is the majority shareholder. It is one of Canada's largest radio broadcasting groups, with 76 stations fully or partly owned across Canada.

The group's Newfoundland and Labradormarker division, known as Steele Communications, includes all but two of the full-power commercial stations in that province.

On November 6, 2004, the company launched the Canadian Hit 30 Countdown, currently Canada's only nationally syndicated CHR hit countdown. Newcap is also a corporate sponsor of Canada's Aboriginal Voices radio network.

In the past, Newfoundland Capital acted as a conglomerate with interests in diverse industries such as newspapers and freight transportation. Presently, the firm's only asset outside of the broadcasting industry is a hotel in Corner Brookmarker, the Glynmill Inn, although the Steele family has additional private holdings outside of the Newcap corporate umbrella.

Pending acquisitions

In July 2008, Newcap announced a deal to trade CFDR in Halifaxmarker to Rogers Media in exchange for CIGM in Sudburymarker. The transaction is pending CRTC approval. Both stations are the sole remaining AM stations in their respective markets, and in both cases the current owner already has the maximum permitted number of FM stations in the applicable market, whereas the acquirer only has a single FM station. Both companies successfully applied to move the stations to FM as part of the trade. Newcap flipped CIGM Sudbury to FM on August 25, 2009. Rogers flipped CFDR Halifax to FM on August 7, 2009.

On July 28, 2008, Newcap also announced that it had a tentative deal to acquire 12 stations in Ontariomarker from Haliburton Broadcasting Group, subject to CRTC approval, for a price of $18.95 million. The company's application to acquire the Haliburton stations was formally published by the CRTC on November 13, 2008, but was subsequently withdrawn in January 2009. Newcap CEO Rob Steele indicated that in light of the credit market crisis, the company did not feel that it was the right time to increase its debt load.

Assets

The following list comes from the CRTC's media ownership charts as of July 31, 2008.

Television



Radio

Newfoundland and Labrador



Nova Scotia



Prince Edward Island



New Brunswick



Ontario



Manitoba



Alberta



3937844 Canada Inc.

The numbered company 3937844 Canada Inc., a partnership between Newcap and Standard Broadcasting, was the licensee for most of the Alberta stations listed above from 2002, when Standard acquired the stations from Telemedia, until 2007, when Newcap bought out Standard's share of the stations.

References

  1. "Local country station will be converted to FM", Northern Life, July 24, 2008.
  2. Newcap signs agreement to acquire 12 radio licences in Ontario, The Nova Scotia Business Journal, July 28, 2008.
  3. Broadcasting Notice of Public Hearing CRTC 2008-14
  4. Broadcasting Notice of Public Hearing CRTC 2008-14-7
  5. "Credit markets squelch $19M Newfoundland Capital radio purchase in Ontario", Canadian Press, January 19, 2009.
  6. CRTC chart of Newcap Broadcasting's assets
  7. Broadcasting Decision CRTC 2008-326


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