Toronto-based broadcaster Corus Entertainment Inc. said Tuesday that it will sell two Oshawa, Ont. radio stations to Durham Radio Inc., in a deal requiring approval from Canada's communications regulator.
Financial details of the deal for radio stations CKDO AM and CKGE FM were not disclosed.
Corus - one of the dominant players in Canadian broadcasting - acquired CKDO and CKGE in 1999 when it purchased 17 radio stations and four television stations from Power Broadcasting Inc.
"We continue to evaluate all of our assets and, after conducting a detailed strategic review of the market, we concluded that our best strategy would be to focus on other parts of our radio business," John Hayes, president of Corus Radio, said in a statement.
"We believe that these stations are a better fit for Durham Radio Inc. which already operates in the market with a strong country FM format."
Privately held Durham Radio, based in Ajax, Ont., owns and operates CJKX-FM. It also holds a 25-per-cent stake in Pineridge Broadcasting Inc., which operates stations in the Cobourg-Port Hope area of Eastern Ontario.
"Strategically, this acquisition will make us a stronger operation overall," said Doug Kirk, President, Durham Radio. "It will also enable us to provide improved radio service across all of our stations."
The companies said "day-to-day operations" will remain unchanged, pending approval from the Canadian Radio-television and Telecommunications Commission.