VICTORIA - Vancouver tycoon and Canadian broadcaster Jimmy Pattison has decided to drop his lawsuit filed against Seacoast Communications, owners of C-FAX 1070 AM and B107.3 FM.
Earlier this year, Seacoast was sold to CHUM Limited for $7.5 million. Pattison, however, responded with a lawsuit saying he held a right of first refusal on the stations. Seacoast owner Mel Cooper told www.broadcastermagazine.com when the lawsuit was filed that he stood on solid legal ground.
However, Cooper told the Victoria Times Colonist
newspaper recently that his friend Pattison himself had contacted him to say the lawsuit will be dropped.
The CRTC will hear the application for sale of the company in a hearing beginning June 7th.
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