Wednesday, June 23, 2010

CHUM Radio buys Toronto's New Flow 93.5 FM from Milestone

CHUM Radio buys Toronto's New Flow 93.5 FM from Milestone - Winnipeg Free Press

TORONTO - CTV-owned CHUM Radio is buying Toronto radio station New Flow 93.5 FM from Milestone Radio Inc. for undisclosed amount.

CHUM said Wednesday that FLOW, which launched in February 2001 as Canada's first urban music station, "has established itself in Toronto as a leader in delivering unique urban programming with a focus on discovering and promoting local artists."

"Flow has done a great job carving out a niche in the Canadian radio landscape providing unique opportunities to artists, listeners and advertisers," CHUM president Chris Gordon said in a statement.

"We value the contributions FLOW has made to promote and develop new Canadian artists, and we look forward to working with their team to grow the station and continue to service the community in Toronto."

The sale requires regulatory approval.

CHUM is a division of CTV Ltd., itself part of the CTVglobemedia family of media properties. It operates 34 radio stations in 16 markets across Canada.

It was the third radio station deal in recent days, following an announcement Rogers Communications (TSX:RCI.B) Tuesday that it is preparing to buy Bounce FM in Edmonton and on Monday that it would buy BOB-FM in London, Ont., both from CTV.

Rogers operates 13 radio stations in Alberta, and a total of 53 radio stations across the country on both the AM and FM dial.

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