Montreal has a new player in the ethnic radio game. On Tuesday, the CRTC approved the sale of CKIN-FM 106.3 from Groupe CHCR (Marie Griffiths, who owns CKDG-FM aka Mike FM 105.1) to Neeti P. Ray, the owner of ethnic radio stations CINA Mississauga and CINA-FM Windsor.
Ray is purchasing CKIN-FM for $500,000, plus an $18,000 consulting contract for current management, plus $22,500 to take over the antenna lease. The commission also added $150,000 to the calculation for the assumed lease of office space over five years even though the contract says the buyer will leave after one at the most.
The application filed with the CRTC projected no major changes to programming on CKIN, which would continue to be managed in Montreal, but will cease to be sister stations with CKDG.
The CRTC’s decision notes a comment on Radio Humsafar, the company behind a yet-to-launch ethnic station at 1610 AM that also targets the South Asian community. It asked the commission to restrict CKIN’s programming it wouldn’t compete directly with their new station. The commission rejected that proposal, noting that Humsafar was aware of CKIN’s presence when it applied for its licence.
The change in ownership will result in $41,430 being injected into the Canadian content development system as a result of the CRTC’s tangible benefits policy. Most of that will go toward funds supporting Canadian music artists.
Griffiths told the CRTC the purchase money would go toward CKDG’s financial health, eliminating its third-party debt.