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Newcap Broadcasting

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Newcap Broadcasting

Newfoundland Capital Corporation, Limited
Public
Traded as NCC.B
Industry Media
Founded 1986
Founder(s) Harold R. Steele
Headquarters

Halifax, Nova Scotia, Canada

745 Windmill Road, Dartmouth, Nova Scotia, Canada
Key people Harold R. Steele (chairman)
Robert G. Steele (president and CEO)
Services Radio broadcasting, television broadcasting, hospitality
Owner(s) Harold R. Steele (majority shareholder)
Employees 850[1]
Website www.ncc.ca

Newfoundland Capital Corporation, Limited is a Canadian broadcasting company, majority-owned by Harold R. Steele. Newfoundland Capital is the parent company of Newcap Inc. (currently doing business as Newcap Radio and formerly known as Newcap Broadcasting). It is currently the number two private-sector radio broadcaster in Canada, just behind Bell Media Radio. It operates 88 stations across Canada. The group also owns two "Newcap Television" stations, both in Lloydminster on the Alberta/Saskatchewan border.

The group's Newfoundland and Labrador division, known as Steele Communications, includes all but two of the full-power commercial stations in that province.

On November 6, 2004, the company launched the Canadian Hit 30 Countdown, currently Canada's only nationally syndicated CHR hit countdown. Newcap is also a corporate sponsor of Canada's Aboriginal Voices radio network.

In the past, Newfoundland Capital acted as a conglomerate with interests in diverse industries such as newspapers and freight transportation. Presently, the firm owns one asset unrelated to the broadcasting industry: a hotel in Corner Brook, the Glynmill Inn, which is operated as part of the Steele Hotels group which includes other properties held directly by the Steele family. The Steele family also has private holdings in other industries which are entirely outside of the Newcap corporate umbrella.

Recent transactions

In July 2008, Newcap announced a deal to trade CFDR in Halifax to Rogers Media in exchange for CIGM in Sudbury. Both stations were the sole remaining AM stations in their respective markets, and in both cases the current owner already had the maximum permitted number of FM stations in the applicable market, whereas the acquirer only had a single FM station. Both companies successfully applied to move the stations to FM as part of the trade. Newcap flipped CIGM Sudbury to FM on August 25, 2009, and Rogers flipped CFDR Halifax to FM on August 7, 2009.[2]

On July 28, 2008, Newcap Inc. also announced that it had a tentative deal to acquire 12 stations in Ontario from Haliburton Broadcasting Group, subject to CRTC approval, for a price of $18.95 million.[3] The company's application to acquire the Haliburton stations was formally published by the CRTC on November 13, 2008,[4] but was subsequently withdrawn in January 2009.[5] Newcap Inc. CEO Rob Steele indicated that in light of the credit market crisis, the company did not feel that it was the right time to increase its debt load.[6]

In May 2011, Newcap announced that it was selling its two stations in Winnipeg, CKJS and CHNK-FM, to Evanov Communications;[7] the sale was approved on October 24, 2011. [8]

In January 2013, the company announced its was exploring a possible sale of its remaining broadcasting assets in western Canada, consisting of 32 radio stations and two television stations, as well as 6 rebroadcasters associated with those stations. These stations are predominantly in Alberta (including several stations in the Lloydminster region on the Alberta/Saskatchewan border), except for two stations in British Columbia. The company announced in May 2013 it was no longer planning to sell its assets in Western Canada.[9] If such a sale had occurred, Newcap suggested that the proceeds might be used to either fund acquisitions "closer to [Newcap's] base in Atlantic Canada", pay down debt, or return capital to shareholders.[10]

On August 26, 2013, Newcap Radio announced it would acquire five former Astral Media radio stations in Toronto and Vancouver, CHBM-FM, CFXJ-FM, CKZZ-FM, CHHR-FM and CISL, which is currently held under blind trust by Bell Media for $112 million. The deal is subject to CRTC approval.[11]

Assets

The following list is based on the CRTC's media ownership charts as of January 26, 2013.[12]

Television

Radio

Newfoundland and Labrador

On November 7, 2012, Newcap applied to operate a new FM radio station in Clarenville, Newfoundland and Labrador. If approved the new station will operate on 97.1 MHz. [13]

Nova Scotia

Prince Edward Island

New Brunswick

Ontario

Alberta

British Columbia

3937844 Canada Inc.

The numbered company 3937844 Canada Inc., a partnership between Newcap and Standard Broadcasting, was the licensee for most of the Alberta stations listed above from 2002, when Standard acquired the stations from Telemedia, until 2007, when Newcap bought out Standard's share of the stations.

References

External links

  • Newcap Radio
  • Newcap Television
  • Newcap Inc. at the Canadian Communications Foundation website


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