| Type | Public |
|---|---|
| Industry | Media |
| Headquarters | Halifax, Nova Scotia, Canada |
| Key people | Harold R. Steele (chairman) Robert G. Steele (president and CEO) |
| Owner(s) | Harold R. Steele (majority shareholder) |
| Employees | 850[1] |
| Divisions | television broadcasting, radio broadcasting |
| Website | www.ncc.ca |
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) is a major Canadian broadcasting company, majority-owned by Harold R. Steele. Newfoundland Capital is the parent company of Newcap Inc. (currently doing business as Newcap Radio and formerly known as Newcap Broadcasting). It is currently the number two private-sector radio broadcaster in Canada, just behind Astral Media. It operates 76 stations, fully or partly, across Canada. The group also owns two "Newcap Television" stations, both in Lloydminster on the Alberta/Saskatchewan border.
The group's Newfoundland and Labrador division, known as Steele Communications, includes all but two of the full-power commercial stations in that province.
On November 6, 2004, the company launched the Canadian Hit 30 Countdown, currently Canada's only nationally syndicated CHR hit countdown. Newcap is also a corporate sponsor of Canada's Aboriginal Voices radio network.
In the past, Newfoundland Capital acted as a conglomerate with interests in diverse industries such as newspapers and freight transportation. Presently, the firm's only asset outside of the broadcasting industry is a hotel in Corner Brook, the Glynmill Inn, although the Steele family has additional private holdings outside of the Newcap corporate umbrella.
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In July 2008, Newcap announced a deal to trade CFDR in Halifax to Rogers Media in exchange for CIGM in Sudbury. Both stations were the sole remaining AM stations in their respective markets, and in both cases the current owner already had the maximum permitted number of FM stations in the applicable market, whereas the acquirer only had a single FM station. Both companies successfully applied to move the stations to FM as part of the trade. Newcap flipped CIGM Sudbury to FM on August 25, 2009, and Rogers flipped CFDR Halifax to FM on August 7, 2009.[2]
On July 28, 2008, Newcap Inc. also announced that it had a tentative deal to acquire 12 stations in Ontario from Haliburton Broadcasting Group, subject to CRTC approval, for a price of $18.95 million.[3] The company's application to acquire the Haliburton stations was formally published by the CRTC on November 13, 2008,[4] but was subsequently withdrawn in January 2009.[5] Newcap Inc. CEO Rob Steele indicated that in light of the credit market crisis, the company did not feel that it was the right time to increase its debt load.[6]
In May 2011, Newcap announced that it was selling its two stations in Winnipeg, CKJS and CHNK-FM, to Evanov Communications;[7] the sale was approved on October 24, 2011. [8]
The following list comes from the CRTC's media ownership charts as of July 31, 2008.[9]
On October 28, 2011, Newcap applied to operate a new country music FM station in Miramichi, New Brunswick. If approved the new station will operate at 95.9 MHz. [10] Newcap also applied for a new radio station in Fredericton which will broadcast a contemporary hit radio music format. If approved, the new station will operate at 93.1 MHz. [11]
The numbered company 3937844 Canada Inc., a partnership between Newcap and Standard Broadcasting, was the licensee for most of the Alberta stations listed above from 2002, when Standard acquired the stations from Telemedia, until 2007, when Newcap bought out Standard's share of the stations.
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