ARCHIVED -  Public Notice CRTC 1997-58

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Public Notice

Ottawa, 15 May 1997
Public Notice CRTC 1997-58
Atlantic Stereo Ltd.
Moncton, New Brunswick - 199703278
Change in effective control
1.  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 A97-0046 dated 28 April 1997, a change in the ownership of Atlantic Stereo Ltd., licensee of radio programming undertaking CJMO-FM Moncton, that will result in Newcap Inc. increasing its ownership interest from 49.6% to 62.2%. Accordingly, Atlantic Stereo Ltd. will go from a situation of no clear-cut control to a situation where Newcap Inc. will have legal and effective control.
2.  The Commission notes that as part of its application, the licensee made a commitment to increase by $10,000 its annual commitment in direct expenditures to Canadian talent development over a five-year period. The licensee's current commitment is an annual $3,000 contribution to FACTOR which will increase to $6,000. The licensee also proposes to allocate $3,000 to the "Day Long Birthday Celebration" initiative as well as $4,000 for scholarships, representing an annual total of $13,000 for a five-year period.
Allan J. Darling
Secretary General
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