An Okanagan media company has been purchased by a Vancouver-based media company.
On Friday, Glacier Media announced that it has bought Castanet Media Ltd. The purchase price was listed at $22 million for Castanet’s assets, plus another $2 million for the radio station.
The acquisition of the radio station, Soft 103.9, is said to be subject to Canadian Radio-Television and Telecommunications Commission approval.
Glacier Media owns many newspapers throughout Western Canada, including a minority stake in The Okanagan Valley Newspaper Group, which publishes The Kelowna Daily Courier and Penticton Herald.