MBC Sells 2 / Acquires 1


MBC Media Release

February 25, 2021 (Renfrew, Ontario)


My Broadcasting Corporation is pleased to announce three transactions that will continue to position the company for future growth and acquisitions.

  • Sale of CIYN‐FM Kincardine to Lakeside Radio Broadcasting Corp.

  • Sale of (CJML‐FM) Milton, (CIMA‐FM) Alliston and (CKMO‐FM) Orangeville to Local Radio Lab Inc.

  • Purchase of (CHLK‐FM) Perth from Perth FM Radio Inc. Kincardine, Ontario


“We’re excited to purchase CIYN‐FM in Kincardine from MBC. Our core value of “great local radio” is certainly aligned with MBC. Since 2009, our primary goal is to focus on the people and communities that we live and to whom we broadcast. We are excited to continue building on the foundation that MBC has created in local radio in the market”, said Greg Hetherington of Lakeside Radio Broadcasting Corp.


Milton, Alliston and Orangeville, Ontario:

MBC has entered into an agreement with Local Radio Lab Inc. for the sale of the assets of CJML‐FM Milton, CIMA‐FM Alliston and CKMO‐FM Orangeville. Local Radio Lab is owned by Christopher Grossman. Mr. Grossman is Chairman of Leanstream Inc. Leanstream is one of Canada’s Leading Digital Audio companies helping Broadcasters realize the potential of streaming to increase audience engagement with tools to connect audiences with advertisers.*


MBC President Jon Pole spoke about these agreements, “We are delighted that Greg Hetherington and Ray Stanton will expand their radio group by adding Kincardine to their group of Wallaceburg and Listowel and it’s exciting to see the return of Christopher Grossman to radio ownership. We would like to thank all our team members and managers in these markets who have done an outstanding job for MBC over the years.”


He added, “Strong, Independent Radio ownership is positive for our industry”.


Perth, Ontario:

“We have long admired the good work, reputation and leadership of Lake 88 in Perth, and we are honoured to welcome this great station into the MBC family. It’s a natural addition to our Eastern Ontario cluster of stations” noted Jon Pole, President of MBC. Lake 88 Owner Brian Perkin said, “MBC is a well‐respected broadcaster with many of the same values that Lake 88 has embraced over the years.


These include a strong commitment to the coverage of local news and information and a dedication to maintaining a real presence in the community. Lake 88 has worked hard for the last 14 years to build a trusted and accessible radio service for our listeners and an effective partnership with local business. We felt MBC’s long‐term strategy was the right fit for Lake 88.”


These transactions are expected to be finalized upon CRTC approval and other customary closing conditions.


For more details:

www.mybroadcastingcorp.com

Contact: Jon Pole – 613‐432‐6936 ext. 1112 *


(For more information about Leanstream please contact Christopher Grossman @ 416‐801‐5511 or grossmanchristopher@gmail.com)

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