CHMZ Tofino/CIMM Ucluelet sale approved by CRTC

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CHMZ Tofino/CIMM Ucluelet sale approved by CRTC

Postby radiofan » Fri Feb 28, 2020 8:10 am

CHMZ-FM Tofino and CIMM-FM Ucluelet – Change in ownership and effective control, and licence renewals

The Commission approves applications by CHMZ-FM Radio Ltd. and CIMM-FM Radio Ltd. for authority to change their ownership and effective control through the transfer of all of their issued and outstanding shares to 1193833 B.C. Ltd., a company wholly owned and controlled by Mr. Cameron Randall Dennison.

Further, the Commission renews, subject to the following condition of approval, the broadcasting licences for CHMZ-FM Tofino and CIMM-FM Ucluelet from 1 April 2020 to 31 August 2022:
1193833 B.C. Ltd. shall file with the Commission, by no later than 30 June 2020, a document demonstrating that the transaction approved in the present decision has been completed and that all conditions relating to closing have been satisfied or waived.

Should 1193833 B.C. Ltd. not file the required documentation by that deadline, the Commission will immediately and without further process revoke the broadcasting licences for CHMZ-FM and CIMM-FM. In such case, the Commission would inform the licensees of the revocation by Commission letter and the licensees would be required to cease operation of the stations as of 1 July 2020.

The short term renewals granted in this decision will allow for an earlier review of the licensees’ compliance with regulatory requirements.

Read the full decision here: https://crtc.gc.ca/eng/archive/2020/2020-76.htm
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