Tag Archives: Gregory Charles

Gregory Charles looks to add classic jazz to Radio Classique, simulcast more, host his own show

The studios and offices of CJPX 99.5 Montreal, at Jean-Drapeau Park

The studios and offices of CJPX 99.5 Montreal, at Jean-Drapeau Park

Almost half a year after the announcement that a company owned by musician Gregory Charles has agreed to buy Radio Classique stations CJPX-FM 99.5 Montreal and CJSQ-FM 92.7 Quebec City, the CRTC has published the application for a transfer of ownership, and we have some details about the sale and his plans for the stations.

The application confirms a purchase price of $10.5 million for the two stations — $6.78 million for CJPX and $3.72 million for CJSQ. The purchase is $7 million in cash and $3.5 million in shares in the new company that must be repurchased by the buyer within four years. There’s also a consulting contract of $8,750 a month ($420,000 total over four years) for existing ownership so long as they still have those shares. The purchase is an acquisition of assets rather than a purchase of the companies that own the stations. There’s also a non-competition clause that lasts three years preventing the current owners from owning or managing a broadcasting or online radio station, or soliciting clients.

The new owner will be Média ClassiQ inc., controlled 100% by Gregory Charles. The stations are currently owned 90% by Jean-Pierre Coallier and 10% by Pierre Barbeau.

If CRTC approval is not acquired by Dec. 31, either party can terminate the agreement, with the buyer paying a $100,000 penalty to the seller.

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Gregory Charles agrees to buy Radio Classique from JP Coallier

The studios and offices of CJPX 99.5 Montreal, at Jean-Drapeau Park

The studios and offices of CJPX 99.5 Montreal, at Jean-Drapeau Park

Radio Classique, which operates classical music stations in Montreal (CJPX-FM 99.5) and Quebec City (CJSQ-FM 92.7), is being sold to Groupe Musique Greg, the company owned by Quebec personality Gregory Charles.

The acquisition price is unknown (the Journal de Montréal says it’s more than $10 million), but should be made public when the CRTC publishes the application to change the ownership of the stations. (The sale can’t be final until the commission approves it.) Legally, the two stations are owned by separate companies, Radio Classique Montréal Inc. and Radio Classique Québec Inc., both of whom are controlled 90% by Jean-Pierre Coallier and 10% by Pierre Barbeau.

Radio Classique launched in Montreal in 1998, and the Quebec station in 2007. I’d been hearing rumours for a few years now that Coallier, who turned 77 last month, was looking to find a new owner for the stations. Charles heard those rumours too, and told Les Affaires that’s why he initiated talks for a purchase. This transaction would keep one of Montreal’s few independent commercial radio stations in independent (and artistic) hands.

It’s unclear what Charles and his company plan to do with the stations (he wouldn’t tell the Journal if he plans to become an on-air personality at the station), but they are unlikely to change formats, at least in the near term. Charles says he acquired the stations because of their niche format, which the major broadcasters won’t touch. Getting rid of classical music and replacing it with Katy Perry would be disastrous for its reputation, and it would likely lose more listeners than it gained.

The stations operate as specialty-format stations, and CRTC approval would be needed before they could convert to pop, rock, dance or country music formats. CJSQ has a specific condition of licence limiting 90% of its content to “concert” music, defined as classical music, opera, operetta and musical theatre.

The latest ratings information from Numeris shows CJPX-FM in Montreal had a 2.7% share among francophones and a 1.8% share among anglophones, while CJSQ-FM in Quebec City had a 4.6% share total.