Rogers to sell Saint John, Moncton talk radio stations

HALIFAX – Two news-talk radio stations in New Brunswick are being sold to new owners who intend to switch them to music and entertainment formats.

Newfoundland Capital Corp. (TSX:NCC.A) says it has signed a deal to buy the radio broadcasting licence for CHNI-FM in Saint John from Rogers Broadcasting Ltd. (TSX:RCI.B).

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CHNI broadcasts as News 88.9 — an all-talk news, sports and traffic radio station.

Financial terms of the deal, which is subject to regulatory approval, were not available.

Chief operating officer David Murray of Newfoundland Capital says all staff at the station will be offered positions within the company.

He says the company has applied to the CRTC for an unrestricted licence that would allow for a switch from the existing news-talk format to music and entertainment.

Meanwhile Irving-owned Acadia Broadcasting Ltd. has announced plans to buy CKNI-FM (News 91.9) in Moncton from Rogers.