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Newfoundland Capital puts Western broadcasting assets up for sale
HALIFAX – Newfoundland Capital Corp. Ltd. (TSX:NCC.A) is putting its broadcasting operations in Western Canada up for sale.
The company says if it can reach a deal it may use the proceeds to invest in areas closer to its base in Atlantic Canada, to reduce debt or return capital to shareholders.
The operations for sale are mostly in Alberta and include 32 radio stations, six repeater licences and two TV stations.
Newfoundland Capital is one of Canada’s largest radio broadcasters with 86 licences across the country.
The company also owns and runs the Glynmill Inn in Corner Brook, N.L.
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