Stingray Radio to acquire CHUP-FM in Calgary

Executive Summary

• Stingray Group Inc. has entered into an agreement to acquire the assets of CHUP-FM (C97.7) in Calgary, Alberta, from Rawlco Radio.
• The transaction is subject to approval from the Canadian Radio-television and Telecommunications Commission (CRTC), with approval anticipated in the second quarter of fiscal 2027.
• Financial terms of the acquisition have not been disclosed.

Key Details

• Acquirer: Stingray Radio, a wholly owned subsidiary of Stingray Group Inc.
• Target Asset: CHUP-FM (branded as C97.7), located in Calgary, Alberta.
• Seller: Rawlco Radio.
• Strategic Rationale: The acquisition is described as a natural complement to Stingray's existing Calgary stations (CKMP-FM and CFXL-FM), strengthening their portfolio and expanding their presence in the Calgary market.
• Regulatory Status: Pending CRTC approval.
• Timeline: CRTC approval is anticipated in the second quarter of fiscal 2027.
• Company Portfolio: Stingray Radio owns and operates 33 radio licenses in Alberta and 96 radio stations across Canada.

Notable Quotes

• "We are excited to expand our presence in the vibrant Calgary market... This acquisition is a natural complement to our existing Calgary stations, strengthening our portfolio of high-quality radio stations and reinforcing our commitment to providing the best in local radio to audiences and businesses across Canada." — Steve Jones, President of Stingray Radio