Astral Media Acknowledges Federal Government's Decision on Exchange of Radio Stations
Astral Media Inc. is pleased to acknowledge the federal government's announcement today to uphold the Canadian Radio-Television and Telecommunications Commission's (CRTC)
January decision to allow the exchange of stations between Astral Media and Corus Entertainment.
Under the terms of the agreement with Corus, Astral Media Radio will obtain five FM stations in Rimouski (2), Amqui, St. Jean-sur-Richelieu and Drummondville. The Company expects the transaction to close at the end of May
"We are very pleased to welcome these stations and their staff into the Astral Media family," said Jacques Parisien, President of Astral Media Radio. "Based on our market research, we have determined what the best fit will be for each station within our three strong radio brands Energie, RockD�tente and Boom fm. We are looking forward to offering the best radio content in each of these regional radio markets and are confident that these five new stations will be a strong complement to our existing radio offer in Qu�bec."
New Astral Media Assets and Network Brand Affiliation:
CJOI-FM 102.9 (Rimouski) - RockD�tente
CIKI-FM 98.7 (Rimouski) - Energie
CFVM-FM 99.9 (Amqui) - Boom fm
CFZZ-FM 104.1 (St. Jean-sur-Richelieu) - Boom fm
CJDM-FM 92.1 (Drummondville) - Energie
In exchange for these five FM stations, Corus Entertainment will acquire Astral's seven AM stations (including the Radiom�dia network) as well as
CFOM-FM in Quebec City.