A week after the Journal de Montréal reported that CKRS-FM in Saguenay wants to become a Rythme FM, the CRTC has published an application from the station that confirms the news.
CKRS is owned by Richard Speer’s Attraction Radio, a growing new player in the Quebec radio scene. It officially owns five radio stations, including CJIT-FM in Lac-Mégantic. It currently has an application in front fo the CRTC to purchase CJLM-FM (M 103.5) in Joliette from a cooperative for $750,000, a deal announced in January 2013. (The deadline for comments on that was last week, and there were no comments filed on that application. A hearing is scheduled June 26, but that’s a formality. The parties aren’t being asked to attend.) And it recently announced a deal to buy the Réseau des Appalaches, owner of Passion Rock and O97,3 stations in the region of Victoriaville/Thetford-Mines.
History of losing money
CKRS, whose AM predecessor dates back to 1947, was once part of the Corus Quebec radio network. It was left off the list of radio stations sold to Cogeco in 2011, and was slated for closure. It was picked up by Radio Saguenay Inc., a group whose owners included Guy Carbonneau. But losing about $400,000 a year (less than the $1 million a year that it lost under Corus), Radio Saguenay gave it away to Attraction for $300,000, a purchase approved by the CRTC in 2012. CKRS and became Attraction’s third station, all of them acquired mere months apart.
Though CKRS’s licence was renewed just a few months ago, Attraction says it feels it can’t continue operating the station in its current format.