ARCHIVED - Decision CRTC 96-119
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Ottawa, 30 April 1996
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Decision CRTC 96-119
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Four Seasons Radio Ltd.
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Kelowna, Big White Ski Village, Trail, Creston, Nelson, Crawford Bay and Nakusp, British Columbia - 199601539 - 199601547 - 199601555 - 199601563
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Transfer of control
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Following Public Notice CRTC 1996-33 dated 8 March 1996, the Commission approves the applications for authority to transfer effective control of Four Seasons Radio Ltd. (Four Seasons), licensee of CKIQ and CKBL-FM Kelowna, CKIQ-FM Big White Ski Village, CJAT-FM Trail, CFKC Creston, CKKC Nelson and a radio network, CKKC-1-FM Crawford Bay and CKBS-FM Nakusp through the transfer of 73.2% of the issued and outstanding shares in West Global Broadcast Holdings Ltd. (West Global) from Walter Gray (19.91%), Doreen Gray (2.17%), 479229 B.C. Ltd. (4.86%), C.W. Gray (3.18%), Robert J. Hall (18.10%), Hall-Gray Broadcasting Co. Ltd. (13.88%), Jeanne Hall (3.66%), Phyllis Tostenson (4.24%) and Roger Cottle (3.2%) to Okanagan Skeena Group Limited (OSGL).
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OSGL currently owns 26.8% of the issued and outstanding common voting shares of West Global. West Global in turn owns 100% of the issued and outstanding voting securities of Four Seasons. As a result of this transaction, OSGL will acquire effective control of West Global.
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The purchase price for the shares is $4,090,200. Based on the evidence filed with the applications, the Commission has no concerns with respect to the availability or the adequacy of the required financing and is satisfied with the benefits flowing from this transaction.
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The Commission notes that the applicant did propose tangible benefits. However, the Commission has taken into account the fact that Four Seasons has been unprofitable over the three years preceding filing of these applications. Accordingly, the Commission is satisfied that the applications meet the criteria set out in Public Notice CRTC 1993-68 entitled "Application of the Benefits Test at the Time of Transfers of Ownership or Control of Broadcasting Undertakings". The Commission notes the important benefit associated with this transaction, that being the maintenance of these undertakings as viable, local radio services. Accordingly, the Commission is of the view that approval of these applications is in the public interest.
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This decision is to be appended to each licence.
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Allan J. Darling
Secretary General |
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- Date modified: