ARCHIVED - Decision CRTC 2000-750

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Decision CRTC 2000-750

 

Ottawa, 14 December 2000

 

Craig Music & Entertainment Inc.
Brandon; Selkirk and Winnipeg, Manitoba
- 200014986 - 200015017 - 200015025
- 200015002

 

30 October 2000 Public Hearing
in Calgary

 

Acquisition of assets

1.

The Commission approves the applications for authority to acquire the assets of radio programming undertakings CKX-FM and CKXA-FM Brandon, CFQX-FM Selkirk and CKMM-FM Winnipeg, from Craig Broadcast Systems Inc.

2.

Through this intracorporate transaction, Craig Music & Entertainment Inc. will become a publicly-traded company, with Craig Broadcast Systems Inc. holding approximately 98% of the voting interest.

3.

The Commission will issue licences to Craig Music & Entertainment Inc. expiring on the expiry date of the current licences, namely on 31 August 2003 for CKX-FM and 31 August 2004 for CKXA-FM, CFQX-FM and CKMM-FM. These licences will be subject to the conditions in effect under the current licences as well as to any other condition that may be specified in the licences to be issued.

4.

The total consideration relative to this transaction is $18,812,061. Based on the evidence filed with the applications, the Commission has no concerns with respect to the availability or the adequacy of the required financing.

5.

The Commission notes that this licensee is subject to the Employment Equity Act that came into effect on 24 October 1996 and therefore files reports concerning employment equity with Human Resources Development Canada.

 

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 

 

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