Stingray to Acquire CHUP-FM in Calgary, AB

Executive Summary

• Stingray Radio announced an agreement to acquire the assets of Calgary radio station CHUP‑FM (C97.7) from Rawlco Radio, pending CRTC approval expected in Q2 FY 2027.
• The acquisition expands Stingray’s presence in the Calgary market and complements its existing stations (CKMP‑FM and CFXL‑FM).
• Financial terms of the transaction were not disclosed.

Key Details

• Target: CHUP‑FM (branded as C97.7) – a Calgary, Alberta radio station owned by Rawlco Radio.
• Acquirer: Stingray Radio, a wholly‑owned subsidiary of Stingray (TSX: RAY.A / RAY.B).
• Regulatory Condition: Subject to approval by the Canadian Radio‑television and Telecommunications Commission (CRTC); anticipated approval in Q2 of Fiscal 2027.
• Strategic Fit: Adds a third Calgary station to Stingray’s portfolio, joining CKMP‑FM (90.3 AMP Radio) and CFXL‑FM (XL 103).
• Financial Terms: Not disclosed.
• Statement from Management: Steve Jones, President of Stingray Radio, highlighted the “strong connection with listeners” and the acquisition’s role in strengthening Stingray’s local radio portfolio across Canada.

Notable Quotes

“We are excited to expand our presence in the vibrant Calgary market,” said Steve Jones, President of Stingray Radio. “C97.7 has built a strong connection with listeners and the community… This acquisition is a natural complement to our existing Calgary stations…”