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ARCHIVED -  Public Notice CRTC 1996-12

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Public Notice

Ottawa, 12 January 1996
Public Notice CRTC 1996-12
Peace River Broadcasting Corporation Ltd.
Peace River, Alberta - 952341600
Transfer of control
Consistent with the procedures outlined in Public Notice CRTC 1992-72 dated 2 November 1992 entitled "A Review of the CRTC's Regulations and Policies for Radio", the Commission announces that it has approved, by Letter of Authority A95-0163 dated 15 December 1995, the transfer of control of Peace River Broadcasting Corporation Ltd. (Peace River Broadcasting), licensee of radio programming undertakings CKYL Peace River, CKHL High Level and CKLA-FM La Crete through the transfer of all of the issued and outstanding shares of Peace River Broadcasting to Peace Radio Network Ltd. (PRN).
More specifically, PRN acquired a 23.8% interest in Peace River Broadcasting directly from J. Allan Adair (20.12%), Verna Ells (2.96%) and Mary Cambridge (0.75%), and acquired the remaining 76.2% interest in Peace River Broadcasting indirectly as a result of its acquisition of all of the issued and outstanding shares of Cambridge Holdings Ltd. from Mary Cambridge (51%) and Verna Ells (49%).
With transactions of this nature, the Commission expects applicants to submit a package of benefits for the community served by the broadcasting undertaking and the Canadian broadcasting system as a whole. In this regard, the Commission notes that in assessing the proposed benefits package submitted as part of this application, it has considered the continuation of strong and recognizable local ownership to be of paramount importance in this case.
Allan J. Darling
Secretary General

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