Newcap to keep local stations

The owner of Z98.9-FM and KG Country 95.5 in Red Deer and Q93.3 Country in Stettler plans to hang onto those radio stations. Newfoundland Capital Corp. announced in January that its subsidiary Newcap Inc. was looking at the possible sale of its western broadcasting assets, which includes 32 radio stations, six repeater licences and two television stations.

The owner of Z98.9-FM and KG Country 95.5 in Red Deer and Q93.3 Country in Stettler plans to hang onto those radio stations.

Newfoundland Capital Corp. announced in January that its subsidiary Newcap Inc. was looking at the possible sale of its western broadcasting assets, which includes 32 radio stations, six repeater licences and two television stations.

But it said Friday that this process had come to an end, explaining that it was unable to reach an agreement at a value it considered appropriate.

“We look forward to continued success in Alberta,” said Rob Steele, Newfoundland Capital Corp.’s president and CEO.

The company has 86 broadcast licences across Canada.