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Pursuant to Public Notice CRTC 1985-156 dated 23 July 1985, the Commission approves the applications to transfer effective control of Mutual Broadcasting Canada Limited, licensee of CKMF-FM and CJMS Montreal, CHIK-FM and CJRP Quebec City, CJTR Trois-Rivières, CJRC Gatineau and of the Radiomutuel network, through the transfer of all of the issued and outstanding shares from Radiomutuel Inc., the parent company of Mutual Broadcasting Canada Limited, to Communications Radiomutuel Inc., a corporation ultimately controlled by Messrs. Normand Beauchamp and Paul-Emile Beaulne.
The Commission notes that following this transfer of control, a corporate restructuring will take place whereby Radiomutuel Inc. and Communications Radiomutuel Inc. will be amalgamated into one company, to be known as Communications Radiomutuel Inc., and a share issue of subordinate Class A voting shares of the amalgamated company, representing an aggregate consideration of $12 million, will be offered to the public.
Ultimately, the ownership structure of Communications Radiomutuel Inc. will be as follows: 130170 Canada Inc. (a holding company owned equally by Messrs. Beauchamp and Beaulne) will hold 2,080,000 multiple (2 votes by share) Class B voting shares (63.4%), and the public will hold 2,400,000 single (1 vote by share) Class A voting shares (36.6%).
The Commission notes that the percentages in the previous paragraph, which differ from those in the application, conform to figures provided in a Prospectus which the licensee filed with the Quebec Securities Commission on 6 August 1985, a copy of which was submitted to the Commission. The Commission notes that the changes do not affect in any material respect the application as filed with the Commission.
The Commission acknowledges the intervention of Mr. Jacques Lagassé, which was submitted with respect to this application.