The Jim Pattison Broadcast Group Announces Acquisition of Three FM Radio
Stations from Bell Media and Astral
KAMLOOPS, BC, May 16, 2013 /CNW/ - Bell Media, Astral Media Inc. (Astral) and
the Jim Pattison Broadcast Group Limited Partnership (Pattison) today jointly
announced Pattison's acquisition of three key FM radio stations located in
Calgary and Winnipeg.
Subject to regulatory approvals, Pattison will purchase the following two Bell
Media stations and one Astral station:
-- KooL FM 101.5 (CKCE-FM) - hot adult contemporary format in
-- FAB 94.3 (CHIQ-FM) - classic pop format in Winnipeg
-- QX 104 (CFQX-FM) - country format in Winnipeg
Rick Arnish, Chairman of Jim Pattison Broadcast Group stated, "This is a very
important acquisition for our Broadcast Group and, with the approval of this
transaction from the CRTC, we will expand our presence in the major markets of
Calgary and Winnipeg, which we have been focusing on for some time."
Mr. Arnish went on to say, "With the pending launch of our newest station
CHPK-FM (95.3 The Peak) in Calgary, combining forces with KooL FM (Today &
Back in the Day) and its great team will allow our Group to have a very strong
competitive FM radio combo in Alberta's fastest-growing city. We're also
very excited about the opportunity to expand in western Canada and
specifically into the Winnipeg radio market with two separate stations, QX 104
(Today's Country) and FAB 94.3 (Super Hits of the 60s & 70s). We are really
looking forward to working with and learning from the superb teams at these
separate Winnipeg operations as we expand into a new marketplace for our
Rod Schween, President of Pattison Broadcasting said "We're just delighted
that we are being given this opportunity to expand our radio reach in western
Canada, and the addition of these three exciting stations will definitely
strengthen our Group and our resources in B.C., Alberta, and now in Manitoba.
We look forward to building on the legacies created by both Bell Media and
Astral. Our history has been built on acquisitions and new licences, as we are
great believers in the future of radio, and this purchase is part of our
strategic plan to grow and expand in the west."
Pattison's acquisition of these radio stations is a result of the proposed
transaction to unite Astral and Bell Media. Astral and Bell are divesting
certain radio stations to comply with the Canadian Radio-television and
Telecommunications Commission's (CRTC) Common Ownership Policy, which limits
the number of stations a company can own in a single market.
The Pattison transaction is subject to approval from the CRTC, for which an
application will be submitted shortly, and contingent on CRTC approval of the
Astral-Bell Media transaction.
"While a necessary outcome of our plan to join with Astral, the decision to
sell these stations wasn't easy," said Chris Gordon, President, Radio and
Local TV, Bell Media. "Each is a strong performer in its respective market,
and they will undoubtedly strengthen Pattison's growing portfolio of media
"Parting with a valued station is difficult, but we trust that the QX 104 team
and the Pattison Group will both benefit from this acquisition and help make
the Canadian radio industry more vibrant than ever," said Ian Lurie, Chief
Operating Officer, Astral Radio.
Founded in 1961, Astral Media Inc. (TSX: ACM.A/ACM.B) is one of Canada's
largest media companies. It operates several media properties - pay and
specialty television, radio, out-of-home advertising, and digital - that are
among the most popular in the country. Astral plays a central role in
community life across the country by offering diverse, rich, and vibrant
programming that meets the tastes and needs of consumers and advertisers
alike. To learn more about Astral, please visit www.Astral.com.
About Bell Media
Bell Media is Canada's premier multimedia company with leading assets in
television, radio and digital. With passion and an unrelenting commitment to
excellence, Bell Media entertains, informs and inspires Canadians. Bell Media
owns 28 conventional stations, including CTV, Canada's #1 television network,
and owns and operates 30 specialty channels, including TSN, Canada's #1
specialty channel and RDS, Canada's #1 French-language specialty channel. Bell
Media also owns 33 radio stations, dozens of websites, Dome Productions Inc.
and has partnered with Cirque du Soleil to form Cirque du Soleil Media, a
Montréal-based production company. Bell Media is owned by BCE Inc. (TSX,
NYSE: BCE), Canada's largest communications company. For more on Bell Media,
please visit www.BellMedia.ca.
About Jim Pattison Broadcast Group
The Jim Pattison Broadcast Group, with its headquarters in Kamloops, B.C. is
the industry's largest private, western-based broadcast group, currently
operating 30 FM radio stations, as well as three conventional television
stations, in British Columbia and Alberta. Pattison Broadcasting is a proud
division of the Jim Pattison Group, a diversified group of operating
businesses, based in Vancouver, which has grown to become the second largest
privately-held company in Canada. Please visit www.JimPattison.com and
www.JPBroadcast.com for more information.
Rick Arnish Jim Pattison Broadcast Group 250-372-3322
Matthew Garrow Bell Media 416-384-5258
Olivier Racette Astral Media Inc. 514-939-5000
SOURCE: Jim Pattison Broadcast Group
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-0- May/16/2013 16:05 GMT
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