Stingray's Exciting Acquisition of CHUP-FM
Stingray, a prominent name in the music, media, and technology sector, has made headlines with its announcement of acquiring CHUP-FM, known as C97.7, located in Calgary, Alberta. This acquisition marks a strategic move for Stingray as it continues to expand its footprint in the vibrant Calgary market.
The Agreement Details
Under this agreement, Stingray Radio, a wholly-owned subsidiary of Stingray, is set to acquire the assets of CHUP-FM from Rawlco Radio. This transition is subject to the approval of the Canadian Radio-television and Telecommunications Commission (CRTC), a standard protocol in broadcasting acquisitions. Steve Jones, the President of Stingray Radio, expressed enthusiasm about this growth opportunity, noting the station's strong ties to its audience and the community.
Steve Jones' Vision
Steve Jones highlighted the commitment to not only maintain but enhance the legacy established by the Rawlco Radio team. By incorporating CHUP-FM into its operations, Stingray aims to strengthen its portfolio of radio stations in Calgary, ensuring they continue to offer high-quality local radio experiences to listeners and businesses alike.
Stingray's Extensive Portfolio
As it stands, Stingray operates 33 radio licenses in Alberta, which includes popular stations like CKMP-FM (90.3 AMP Radio) and CFXL-FM (XL 103). With a total of 96 radio stations across Canada, Stingray is a powerhouse in the media industry. This acquisition of CHUP-FM will only augment their offerings and enhance their competitive edge.
A Commitment to Localization
The company emphasizes the value of local radio, aiming to cultivate connections within communities while delivering tailored content and advertising solutions. This dedication to local content is crucial for both audience engagement and new business opportunities that arise from localized advertising.
Anticipated CRTC Approval
The transaction awaits CRTC's approval, which is expected to be granted in the second quarter of Fiscal 2027. As details about the financial aspects of the acquisition remain undisclosed, the anticipation of regulatory approval marks an exciting next step for Stingray as it gears up to integrate CHUP-FM into its operational framework.
About Stingray
Stingray is recognized for its innovation across media platforms, leading in broadcasting, streaming, and business services. With a diverse portfolio that includes various music and digital services, Stingray caters to enterprise brands globally. Their offerings encompass audio and video channels, karaoke products, and in-car infotainment solutions, effectively reaching millions of consumers worldwide.
Stingray Business and Advertising
In addition to its broadcasting strength, Stingray also provides commercial solutions through its Stingray Business division. This sector specializes in creating effective music and advertising solutions for businesses, alongside digital signage and AI-driven consumer insights.
Contact Information
For further inquiries regarding this acquisition or Stingray’s services, you can reach out to:
Frédérique Gagnier
Director, Communications and Partnerships
Stingray
Email: fgagnier@stingray.com
Frequently Asked Questions
What is the significance of acquiring CHUP-FM?
The acquisition enhances Stingray's presence in Calgary and expands its local radio station portfolio, fostering better community connections.
Who is Steve Jones?
Steve Jones is the President of Stingray Radio, advocating for maintaining and enhancing the legacy of CHUP-FM within the local community.
How many radio stations does Stingray operate?
Stingray operates a total of 96 radio stations across Canada, including numerous licenses in Alberta.
When is the CRTC approval expected?
The anticipated date for CRTC approval is in the second quarter of Fiscal 2027.
What services does Stingray offer besides radio?
Stingray provides a variety of services including streaming, advertising solutions, digital signage, and AI-driven insights, serving global enterprise brands.
