Sale of Holdings
In May 2008, Haliburton announced a deal to sell the CHYC stations to Le5 Communications, a firm owned by Sudbury lawyer Paul Lefebvre, for a purchase price of $425,000. The deal was approved by the CRTC on October 31, 2008.
On July 28, 2008, HBG announced that it had sold 12 stations to Newcap Broadcasting, subject to CRTC approval, for a price of $18.95 million. The Kincardine and Haldimand stations were not part of the deal, and their status was not disclosed at the time of the Newcap announcement. Newcap's formal application to acquire the stations was published for public hearings by the CRTC on November 13, 2008, but was subsequently withdrawn in January 2009. Newcap CEO Rob Steele indicated that in light of the credit market crisis, the company did not feel that it was the right time to increase its debt load.
In February 2009, Haliburton was part of a tentative deal to sell CIYN in Kincardine to My Broadcasting Corporation.
On October 19, 2012, the CRTC approved Vista Broadcast Group's application for authority to acquire Haliburton's AM and FM radio stations located in Ontario.
Read more about this topic: Haliburton Broadcasting Group
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