ARCHIVED - Public Notice CRTC 1999-181
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Ottawa, 5 November 1999
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Public Notice CRTC 1999-181
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Copper Island Broadcasting Ltd.
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Salmon Arm, Revelstoke and Golden, British Columbia - 199910279
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Transfer of control and shares
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1.The Commission announces that it has approved, by Letter of Authority A99-0137 dated 19 October 1999, a change to the ownership and control of Copper Island Broadcasting Ltd. (Copper Island) through the transfer of all of its issued and outstanding shares to Okanagan Skeena Group Limited. Copper Island is licensee of radio programming undertakings serving Salmon Arm, Revelstoke and Golden.
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2.The Commission notes that the purchase price is $2,100,000 and that the proposed tangible benefits amount to $126,000 (6% of the purchase price). The benefits will be spent over seven years as follows:
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$63,000 on the new Canadian music marketing and production fund; and
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63,000 to FACTOR.
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3.The 3% contribution which is to be allocated to the Canadian Music Marketing and Promotion Fund must be directed to the Canadian Association of Broadcasters who will hold all contributions in trust pending the creation of this fund. The Commission expects the actual value of the benefits will reflect the final value of the transaction including the adjustments, but not less than the purchase price.
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This document is available in alternative format upon request, and may also be viewed at the following Internet site: http://www.crtc.gc.ca
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Secretary General
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- Date modified: