A phantom radio station was, in the early days of radio, one which did not own or operate a radio transmitter and was licensed to broadcast only over an existing physical station from which it leased time. The phantom's licensee's call letters were used only during the period of time where the facilities of the physical station were leased.[1]
In Canada, the Canadian National Railway radio network, based in Toronto and known as "CPRY," with initials standing for "Canadian Pacific Royal York"[14], operated out of studios at CP's Royal York Hotel and leased time on CFRB and CKGW until the network was disbanded in 1932.