(Toronto, Canada) Corus Entertainment Inc. (TSX:CJR.B; NYSE:CJR) announced today that it has reached an agreement with a group headed by Michel Cadrin to sell radio station CHRC-AM (Info 800 AM). The transaction is subject to approval by the Canadian Radio-television and Telecommunications Commission (CRTC). The purchase price was not disclosed.
“Corus will continue to serve listeners with our two FM stations, Québec City’s CFOM-FM and Montmagny’s CFEL-FM, which now has increased power and regional reach,” said Jacques Papin, Vice President, Networks, Corus Québec. “CHRC-AM is a natural fit for the proposed new ownership group given their strong affiliation with Québec City’s sports, arts and cultural scenes.”
“Along with partners Jacques Tanguay and Patrick Roy, we are delighted with the purchase of Info 800 AM given its community-based presence in Québec City,” said Michel Cadrin, President, Groupe Michel Cadrin Inc.
About Corus Entertainment Corus Entertainment Inc. is a Canadian-based media and entertainment company. Corus is a market leader in specialty television and radio with additional assets in pay television, advertising and digital audio services, television broadcasting, children’s book publishing and children’s animation. The company’s multimedia entertainment brands include YTV, Treehouse, W Network, Movie Central, Nelvana, Kids Can Press and radio stations including CKNW, CKOI and Q107. Corus creates engaging branded entertainment experiences for its audiences across multiple platforms. A publicly traded company, Corus is listed on the Toronto (CJR.B) and New York (CJR) exchanges. Experience Corus on the web at www.corusent.com.