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Decision
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Ottawa, 27 September 1990
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Decision CRTC 90-1007
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Radio CJVR Ltd.
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Melfort, Saskatchewan - 900891300
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Pursuant to Public Notice CRTC 1990-75 dated 3 August 1990, the Commission approves the application for authority to transfer effective control of Radio CJVR Ltd., licensee of CJVR Melfort, through the transfer of 75% of the issued shares of the licensee company, from Gary Fitz who controls Venture Management Limited to Fabmar Investments Ltd. (Fabmar), a new shareholder who is controlled by the Fabmar family.
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Fabmar subsequently intends to wind up Marchar Management Ltd. into its parent company Venture Management Ltd. which in turn will be amalgamated with Radio CJVR Ltd.
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As stated in a number of decisions relating to applications for authority to transfer ownership or effective control of broadcasting undertakings, and because the Commission does not solicit such applications and because there is, thus, only one proposal presented to the Commission, the onus is on the applicant to demonstrate to the Commission that the application filed is the best possible proposal under the circumstances, taking into account the Commission's general concerns with respect to transactions of this nature.
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The total purchase price is approximately $1,280,000. Based on the evidence filed with the application, the Commission has no concerns with respect to the availability or the adequacy of the required financing.
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Among the intangible benefits to result from this transaction, the Commission notes, in particular, the re-establishment of CJVR as a viable local radio station and continuity of management. In this instance, the current President and General Manager, Gary Fitz, will retain part ownership and continue to manage the station.
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The Commission has assessed the benefits package identified by the applicant as flowing from this transaction and, in general, is satisfied that it is significant and unequivocal, commensurate with the site and nature of the transaction, and that it takes into account the responsibilities to be assumed by the purchaser, the characteristics and viability of the broadcasting undertaking concerned, and the scale of the programming, management, financial and technical resources available to Fabmar. Moreover, the Commission considers that approval of this application is in the public interest.
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The Commission expects Fabmar to ensure that the $153,000 in proposed expenditures are made in accordance with the schedule outlined in the application.
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The Commission acknowledges the 11 interventions received in support of this application.
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Alain-F. Desfossés
Secretary General
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