ARCHIVED - Broadcasting Decision CRTC 2014-43
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Route reference: 2013-448
Ottawa, 5 February 2014
Sydney, Nova Scotia
Application 2013-0988-1, received 5 July 2013
Public hearing in the National Capital Region
5 November 2013
CKCH-FM Sydney – Acquisition of assets (corporate reorganization)
1. The Commission approves an application by Newcap Inc. (Newcap) for authority to acquire from 3221809 Nova Scotia Ltd. (3221809 Nova Scotia), as part of a corporate reorganization, the assets of the English-language commercial radio programming undertaking CKCH-FM Sydney, Nova Scotia, and for a broadcasting licence to continue the operation of the undertaking under the same terms and conditions as those in effect under the current licence. The Commission did not receive any interventions regarding this application.
2. 3221809 Nova Scotia is a wholly owned subsidiary of Newcap, which in turn is controlled by Mr. Harold R. Steele.
3. The corporate reorganization is intended for tax planning purposes and consists of the wind-up of 3221809 Nova Scotia into Newcap, pursuant to the Asset Purchase Agreement dated 2 July 2013.
4. The Commission notes that this transaction will not affect the effective control of the licensee or undertaking, which will continue to be exercised by Mr. Steele.
5. Upon surrender of the current licence issued to 3221809 Nova Scotia, the Commission will issue a new broadcasting licence to Newcap to operate CKCH-FM under the same terms and conditions as those in effect under the current licence.
6. The Commission directs Newcap to notify the Commission as soon as the wind-up is completed. The Commission further directs Newcap to file an executed copy of the constituting documents for the wind-up, within 30 days of this decision.
7. Because this licensee is subject to the Employment Equity Act and files reports concerning employment equity with the Department of Employment and Social Development Canada, its employment equity practices are not examined by the Commission.
* This decision is to be appended to the licence.
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