Newfoundland and LabradorNewfoundland and Labrador news
Updated: Wed, 23 Jan 2013 11:57:10 GMT | By CBC News, cbc.ca

NewCap looking to sell western broadcast operations



Newfoundland Capital Corporation is putting its broadcasting operations in western Canada up for sale.

The sale would include 32 radio stations and two television stations, most of which are located in Alberta. NewCap says some of the money could be used to invest in areas closer to its base in Atlantic Canada, reducing debt or returning capital to its shareholders.

The company already owns most of the private radio stations in Newfoundland and Labrador, as well as several hotels in the province.

Newfoundland Capital is the parent company of Steele Communications.

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