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CHUM gets Victoria radio approval

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CHUM Limited
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Mergers and acquisitions
TORONTO - CHUM Limited last week received CRTC approval for the purchase of the radio assets of Seacoast Communications Group Inc. in Victoria, B.C.

The transaction includes Victoria radio stations C-FAX AM and CHBE FM for the previously announced purchase price of $7.5 million and music production operation, Seacoast Sound, for the purchase price of $500,000.

Serving Victoria for over 43 years, C-FAX AM, is the second-highest rated news/talk radio station in B.C. CHBE FM, known in the market as B107.3, was licensed in 2000. The station has a music-based format offering hits from the 80s, 90s and today.

The transaction is expected to close September 30, 2004.
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