ARCHIVED - Decision CRTC 2000-764
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Decision CRTC 2000-764 |
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Ottawa, 21 December 2000 |
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William Evanov, on behalf of a company to be incorporated to be known as CKDX Radio Limited |
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20 November 2000 Public Hearing |
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Acquisition of assets |
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1. |
The Commission approves the application for authority to acquire the assets of radio programming undertaking CKDX-FM Newmarket, from 1093641Ontario Limited, and for a broadcasting licence to continue the operation of this undertaking. |
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2. |
Upon surrender of the current licence, the Commission will issue a licence to the company to be incorporated, expiring 31 August 2003, the current expiry date. The licence will be subject to the conditions set out in the licence to be issued, as also set out in Public Notice CRTC 1999-137. |
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3. |
The negotiated transaction proposes that 1093641 Ontario Limited sell the assets of CKDX-FM to CKDX Radio Limited, a company to be incorporated. The new company will issue 30% of its shares to the vendors and 70% of the voting shares to CKMW Radio Limited. 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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The Commission notes that the applicant did not propose any tangible benefits; CKDX-FM has been unprofitable over the three years preceding filing of this application. In accordance with its policy for commercial radio, the Commission will forego benefit requirements for this station. The Commission notes the important benefit associated with this transaction, that being the maintenance of CKDX-FM as a viable, local radio service. Accordingly, the Commission is of the view that approval of this application is in the public interest. |
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In Decision CRTC 99-479, the Commission approved an application for an increase in power for CKDX-FM. In a letter dated 17 October 2000, the Commission approved a six-month extension of the time limit for CKDX-FM to implement the power increase, and the licensee is reminded that the implementation of that authority must be completed by 26 April 2001. |
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6. |
The Commission encourages the licensee to consider employment equity issues in its hiring practices and in all other aspects of its management of human resources (PN 1992-59). |
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Related CRTC document |
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. Public Notice 1998-41 - Commercial radio policy, 1998 |
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Secretary General |
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