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Stingray inks deal to acquire radio station in Drumheller, Alta.


MONTREAL — Stingray Group Inc. says it has entered into an agreement to acquire a music radio station in Drumheller, Alta., for an undisclosed price.

The Montreal-based company, which provides advertising-free music service through major Canadian distributors, says it is buying the assets of CHOO-FM from Golden West Broadcasting Ltd.

Stingray's head of radio operations, Ian Lurie, says the acquisition complements its country-based CKDQ-AM by focusing limited resources in a small-market environment.

The transaction is subject to approval from the Canadian Radio-television and Telecommunications Commission and is expected to close mid-year.

 

Companies in this story: (TSX: RAY.A)

The Canadian Press

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