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ARCHIVED - Broadcasting Decision CRTC 2002-335

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Broadcasting Decision CRTC 2002-335

Ottawa, 24 October 2002

Radio Beauce inc.
Saint-Georges and Saint-Georges-de-Beauce, Quebec 

Application 2002-0503-0

Transfer of effective control

1.

The Commission has received an application from Mr.Guy Simard, on behalf of Radio Beauce inc. (Radio Beauce), for the transfer of the effective control of Radio Beauce, licensee of radio programming undertakings CHJM-FM Saint-Georges and CKRB-FM Saint-Georges-de-Beauce.

2.

The proposed transaction would be implemented through the transfer of the 300 common voting shares held by Mrs. Marie Jalbert in Radio Beauce, as follows:

  • 210 common shares to Mr. Guy Simard, representing 70% of the voting interests in the licensee;
  • 36 common shares to Radio CJFP (1986) ltée, representing 12% of the voting interests;
  • 15 common shares to Mr. Clermont Labrie, representing 5% of the voting interests;
  • 12 common shares to Mr. Claude Martel, representing 4% of the voting interests;
  • 12 common shares to Mrs. Renée Giard, representing 4% of the voting interests;
  • 9 common shares to Mr. Gilles Gosselin, representing 3% of the voting interests; and
  • 6 common shares to Mr. Daniel St-Pierre, representing 2% of the voting interests.

3.

As a result of this transaction, effective control of Radio Beauce will rest with Mr. Guy Simard.

4.

The Commission notes that CHJM-FM et CKRB-FM has been unprofitable over the past three years. In accordance with Commercial Radio Policy, 1998, Public Notice CRTC 1998-41, 30 April 1998, there are no tangible benefits requirements for unprofitable stations. The Commission notes the intangible benefits proposed by the applicant as part of this transaction.

5.

According to the Purchase and Sale Agreement filed with the application, the purchase price for the 300 common shares in the licensee is $432,000, which represents $1,440 per share. In view of Radio Beauce's unprofitable situation and the particular circumstances of the transaction, the Commission considers the value of the transaction to be reasonable.

6.

In view of the particular circumstances of this transaction, the Commission approves the application for the transfer of control of Radio Beauce.

7.

The Commission will modify its ownership records to reflect this decision.

Secretary General

This decision is to be appended to the licence. It is available in alternative format upon request, and may also be examined at the following Internet site: www.crtc.gc.ca

Date Modified: 2002-10-24

Date modified: