ARCHIVED -  Public Notice CRTC 1999-96

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Public Notice

Ottawa, 4 June 1999

Public Notice CRTC 1999-96

3224503 Canada inc.
Drummondville, Quebec - 199813316

3145069 Canada inc.
Saint-Hyacinthe, Quebec - 199813324

Change in control of CHRD-FM and CFEI-FM

1. The Commission announces that it has approved, by majority vote, (letters of Authority A99-0063 and A99-0064 dated 28 May 1999), a change in the control of 3224503 Canada inc. and 3145069 Canada inc., licensees of radio programming undertakings CHRD-FM Drummondville and CFEI-FM Saint-Hyacinthe. Following the transaction, control will rest with Mr. Lucien Rémillard, who will hold all shares indirectly.

2. The Commission notes that the sale of the stations is occurring during the first licence term and that a substantial profit is being realized. In such cases, because broadcasting licences are a public benefit, the Commission will consider the issue of whether a transaction constitutes licence trafficking. It has considered the applicants' submissions and has concluded that, in the circumstances, the transaction does not constitue licence trafficking. The circumstances considered include the investments made, the improvement of the stations and their increase in value under the management of the vendors; CHRD-FM was in receivership and CFEI-FM had registered important losses prior to being acquired.

Secretary General

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