Castanet buys Juice FM
Castanet has struck a deal with Vista Radio to buy Kelowna’s Juice FM 103.9.
The CRTC announced today the proposal is now set down for a hearing in Ottawa on Sept. 7.
Approval is expected sometime in October.
The founder of Castanet Nick Frost said, “When this opportunity came up, we thought it was the right thing to do for two key reasons: to broaden our reach when viewers aren’t online, and to bring an entirely different local radio service to the city.”
Castanet’s general manager Chris Kearney, said the FM station will broadcast from the heart of the newsroom in our new Lawrence Avenue studios.
“We have exciting plans to combine online, radio, & TV on Kelowna’s Homepage,” said Kearney.
“Castanet has lots of great content that will now be heard on the airwaves too.”
Depending on CRTC timing, it’s possible that “Castanet FM” will be on-air in the late fall.
Original Story HERE
CRTC Decision – number 9
http://crtc.gc.ca/eng/archive/2017/2017-223.htm
What a delightful switch, to finally see a radio station once again become locally owned and operated, and Nick Frost is to be commended! I couldn’t be happier. Like to see more local radio stations become Indy’s A Refreshing change
This has to be a world record for a company driving the value of a radio station into the toilet. Having worked at the Juice, gotta say it’s no surprise to see it sold off for pennies on the dollar. When you try to run a radio station in a market the size of Kelowna with 3 or 4 people, no local management, no sales staff, etc you get this result. K96 sold for around $5 Million I think. Silk sold for close to $10 Million before that. Vista just gave up and dumped this one for $650,000. Absolutely amazing example of how not to run a company. Hopefully it gets a new lease on life under new ownership.
Don’t see that everyday. Way to go Castanet.
$650,000 for a radio station?? hmmmm…. you might start seeing some Vancouver broadcasters sell their houses and buy stations soon! 😛
Maybe the time has come for more of these corporates to sell off their under
performing am stations, such as CFTE? the former CFUN 1410 Vancouver, in Edmonton I-News880, and in Calgary CKXM now the comedy station, as examples, the further east you go, there are numerous am outlets not performing, like the stockholders want.
Did anyone else catch that Paul Larsen’s signature is on the CRTC application document as a witness? Would that be the same Paul Larsen who owns Clear Sky Radio? I’m pretty sure he lives in Kelowna.
From Clear Sky CEO Paul Larsen’s Facebook page
Kelowna, British Columbia.
posted 46 mins ago Friday afternoon ·
With Castanet.net’s proposed purchase of 103.9 Juice FM Kelowna now public, I’m excited to announce I’ll be joining Castanet as Director of Broadcast. Looking forward to learning more about local digital media from their incredible team and assisting in the creation of Castanet FM pending CRTC approval. No change at my company Clear Sky Radio where I remain President and co-owner. This new opportunity simply allows me to expand my consulting work with an exceptional company in the community where I reside. Should be fun!
I look forward to Nick Frost’s Castanet Radio kicking the ass of the current news talk wheezebag, AM1150, a tired, delapedated Kelowna radio outlet featuring Phil Johnson, the over the hill talk show host who tends to voice over every freaking commercial on the Bell Okanagan network, so you might as well call it “Phil Johnson AM 1150.” LOL
However, I do agree with the former Vista dude who says that 103.9 the Juice was perhaps the most mismanaged British Columbia radio station of all time. It clearly was.
In terms of deejay staff turnover, program director turnover, news director turnover, three sales people who quit, en masse, at one point and then, Vista getting sued by Nick Frost, for copyright infringement of news stories allegedly stolen by Vista Kelowna !
I wonder who won that lawsuit?
The Juice Kelowna did turnaround its musical lineup last year, but it was too little too late, as they say.