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August 8, 2020 11:05 pm  #31


Re: Caribbean Canadian radio station up for sale

RadioActive wrote:

"The group said the outstanding debts that triggered the court-ordered sale is, “a mere $5 million”.
Well, if it's only a lowly $5 million, then I guess it's OK...

Where is 5 million expected to come from? Even if it could be a listener supported station, there's still too much debt!
When CHRY was listener supported they'd be lucky to see $100,000 let alone 5 million! 
Back in 2003 they raised $70,000 to stay on the air.  
Source: http://www.yorku.ca/chry/fundraising/fundrive.html 
Note: When CHRY switched to the new Vibe format, fund raising was discontinued in favour of other revenue methods.

 

 

August 9, 2020 5:56 am  #32


Re: Caribbean Canadian radio station up for sale

I get it, it’s an important voice in and for their community. However, it’s just not paying the bills. A bailout of sorts would just open the floodgates for similar stations, and there go your tax dollars.

The groups that did support it could perhaps buy time on one of the CHINs or another top of the dial station. Sure, it’s AM, but the voice is still getting out there.

 

August 27, 2020 7:53 am  #34


Re: Caribbean Canadian radio station up for sale

Wow, even Mayor John Tory and Doug Ford are on the petition list. I really anticipate that G98.7 can get into the right hands, that the new operator can continue G98.7's format and retain its staff. 

 

August 27, 2020 7:52 pm  #35


Re: Caribbean Canadian radio station up for sale

I love those "petition signers". So easy to sign a piece of paper. So what? If they really want to demonstrate support for the station open up their wallets and donate a buck or five. I have a lot more respect for individuals who put their money where their signature is. Some will say they can't afford to do this as they pull out their latest high dollar cell phone.
 

 

September 4, 2020 10:05 am  #36


Re: Caribbean Canadian radio station up for sale

Word on the street, and it is only a rumour, is that the station has been bought by a Canadian buyer with off-shore support.  

     Thread Starter
 

September 4, 2020 4:57 pm  #37


Re: Caribbean Canadian radio station up for sale

Interesting! Would the "off-shore" support have to be limited to 30%? And does the CRTC have to approve of this?

 

September 4, 2020 6:40 pm  #38


Re: Caribbean Canadian radio station up for sale

torontostan wrote:

Interesting! Would the "off-shore" support have to be limited to 30%? And does the CRTC have to approve of this?

Foreign ownership is limited to 20% direct and a provision for 33.3% for holding corps.  It requires Commission approval.

 

September 4, 2020 6:55 pm  #39


Re: Caribbean Canadian radio station up for sale

splunge wrote:

Foreign ownership is limited to 20% direct and a provision for 33.3% for holding corps.  It requires Commission approval.

I was close! Haha. Thanks