By James Peters

NL radio stations to change hands again as Stingray buys Newcap

May 2, 2018 | 2:12 PM

KAMLOOPS — For the second time in as many years, a Kamloops radio group is under new ownership.

Montreal-based Stingray Digital Group announced today it has acquired Newfoundland Capital Corporation, better known as Newcap.

Newcap acquired NL Broadcasting in May of last year, a deal that was approved by the Canadian Radio-television and Telecommunications Commission last June.

NL’s Kamloops stations include CHNL 610 AM, CKRV 97.5 FM and CJKC 103.1 FM.

The $506 million Stingray deal is Stingray’s first entry into the broadcast radio market, and still requires CRTC approval.

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Stingray currently offers specialty television channels and multiplatform music and video services.

The purchase of Newcap gives the company 101 radio licences across Canada.