Rogers Media Inc. announced on Friday it has added 13 more radio stations in Ontario. With this addition, Rogers Media will operate 43 stations across Canada.
The stations, currently owned by Telemedia, were bought from Standard Broadcasting, who recently announced the purchase of Telemedia's radio division. The total cost of the acquisition is $100 million and is subject to regulatory approval and the closing of the transaction between Standard Broadcasting and Telemedia.
The stations involved are:
CJCL - The Fan in Toronto;
CIGM, CJRQ-FM and CJMX-FM in Sudbury;
CKAT, CKFX-FM and CHUR-FM in North Bay;
CIRS, CJQM-FM and CHAS-FM in Sault Ste. Marie;
CKGB-FM and CJQQ-FM in Timmins; and
CICX-FM in Orillia.
"We are thrilled to have the opportunity to expand our radio division," commented Tony Viner, President and CEO of Rogers Media. "Twelve of these stations are located in new centers for Rogers Media Radio. They are solid, well-run properties, with strong community reputations. The employees of these stations will continue to benefit from being part of a large organization."
The Fan 590 is an all-sports station in Canada's largest market, Toronto. "We believe in the AM dial. Our record of success in niche AM programming is well documented," said Mr. Viner. "In seven years, 680News has developed a strong and loyal following as has News 1130 in Vancouver. Acquiring The Fan will allow us to once again develop and refine a highly focused format on the AM band in a major market. We think there's an obvious connection between all news and all sports which, when combined with our other Toronto stations, market leader CHFI-FM and Top 40 KISS92, should provide excellent multiple buying opportunities for advertisers. As well, our interest in SportsNet will compliment this addition to our sports assets."
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