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Broadcasting Decision CRTC 2003-21
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Ottawa, 23 January 2003
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Radio Mégantic ltée
Thetford Mines and Disraeli, Quebec
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Application 2002-0883-6
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Corporate reorganization
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1.
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The Commission received an application by Radio Mégantic ltée (Mégantic), owned by François Labbé, for authority to implement a corporate reorganization that would modify the direct control of Mégantic.
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2.
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Mégantic, the licensee of CKLD-FM Thetford Mines and its transmitter CJLP-FM Disraeli, is part of a Quebec radio network known as Réseau des Appalaches. The network also includes Radio Victoriaville ltée (Victoriaville), the licensee of CFDA-FM Victoriaville, and Réseau des Appalaches (FM) ltée (Appalaches), the licensee of CFJO-FM and CFJO-FM-1 Lac Mégantic.
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3.
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Mégantic holds and controls 58.54% of the voting rights for Victoriaville, and shares equally in the ownership of Appalaches with Victoriaville.
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4.
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The proposed reorganization involves the transfer of the 79.01% voting interest in Mégantic currently held by the management corporation Gestion 450 inc., which company is owned by François Labbé, to a new management firm to be incorporated, that will also be owned by Mr. Labbé, and is to be named Gestion des Appalaches inc. (Gesco). In a concurrent transaction, Gesco will also acquire Mr. Labbé's direct holdings (9.75%) in Victoriaville.
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5.
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The Commission notes that ultimate control of the licensees participating in the Réseau des Appalaches will remain unchanged and will continue to be exercised by François Labbé.
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6.
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The Commission further notes that Mégantic's control of Victoriaville has increased from 40% to 58.54% without the prior approval of the Commission. The Commission reminds licensee that it must remain in compliance at all times with section 11(4)(a) of the Radio Regulations, 1986.
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7.
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The Commission approves the reorganization application filed by Mégantic. The Commission also approves the change of effective control of Victoriaville, as it has been carried out.
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8.
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The licensee shall file the incorporation documents for Gestion des Appalaches with the Commission within 30 days of the date of this decision.
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9.
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The Commission will amend its ownership records to reflect the information appended to this decision.
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Secretary General
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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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Appendix to Decision CRTC 2003-21
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Gestion des Appalaches inc. (company to be incorporated)
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Name
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Class
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# held
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% of vote
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Fiducie Familiale François Labbé
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Class A
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69
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0.07%
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Annie Labbé
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Class A
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31
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0.03%
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François Labbé
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Class E
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100
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99.9%
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Name
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Class
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# held
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% of vote
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GESCO (Gestion des Appalaches inc.)
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Class A
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128
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79.01%
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Gestion S.L.L. inc.
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Class A
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30
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18.52%
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Anne, Marie, Marc & Paul Labbé
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Class A
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4
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2.47%
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Name
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Class
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# held
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% of vote
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Radio Mégantic ltée
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Common
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12,000
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58.54%
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GESCO (Gestion des Appalaches inc.)
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Common
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2,000
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9.75%
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Alain Nadeau
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Common
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3,500
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17.08%
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Jeanne Nadeau Boyle
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Common
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3,000
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14.63%
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Réseau des Appalaches (FM) ltée
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Name
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Class
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# held
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% of vote
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Radio Mégantic ltée
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Class A
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10,000
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50%
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Radio Victoriaville ltée
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Class A
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10,000
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50%
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Date Modified: 2003-01-23
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