The CRTC has approved the purchase by Standard Radio of 64 radio stations and two television stations belonging to Telemedia.
The commission also approved the acquisition by Rogers Broadcasting of 14 of those stations and NewCap was given the go-ahead to buy 15 of the stations.
The agency says one advantage of the 64-station deal is that they are being transferred from one owner to three separate, experienced companies with the resources to develop them.
It estimates the companies will invest 24 million dollars towards the development of Canadian artists.
Rogers is adding 14 Ontario radio stations to its holdings. NewCap is acquiring 15 stations in Alberta.
Standard will maintain, from its purchase of Telemedia stations, 21 radio stations and two television stations in British Columbia;
one radio station in Edmonton and 13 radio stations in Ontario.
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