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Wednesday, February 2, 2011

The $80 million sale of 11 Corus stations to Cogeco closes; Lachance named SVP

cogeco Rival Astral Media tried to block the sale of 11 Corus Radio stations in Quebec to Cogeco in a Canadian court. The Canadian Radio Television & Telecommunications Commission approved the $80 million sale, despite the sale giving Cogeco three French-language FM stations in Montreal, one over the market limit, according to the Canadian Press. Cogeco promised concessions, including local news and information for their stations, but that was not enough for Astral which challenged the CRTC's decision as being "unfair." The deal just closed, though the court challenge brought by Astral Media is still pending. With the closing, Cogeco has promoted Richard Lachance to SVP of Radio, overseeing all of Cogeco's Quebec stations. In addition, Andre St. Amand is appointed as VP/Programming. Jean-Luc Meilleur will be GM of CFGL-FM (105.7) in Montreal and also Regional VP. Real Germain is the new GM of CKAC-FM (98.5) and will also oversee Cogeco News. And Daniel Dubois becomes VP/Sales.

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