Stingray Digital Group Inc. will be the proud owners of Newfoundland Capital Corporation Ltd. (NCC) and all its radio assets across the country by the end of the week.
The Canadian Radio-television and Telecommunications Commission approved the $500 million sale of the Newcap, granting Stingray ownership of VOCM, K-Rock, Hits-FM, KIXX Country, Big Land FM and a number of other radio properties.
Until now, Stingray had operated in the area of digital music streaming and background music for retail subscribers. Now the firm will have 72 radio stations from coast to coast, making it the largest public independent company in Canada.
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St. John's-based VOCM among radio stations sold to Stingray Digital in $500-million deal
