Pattison Media (PM) has a stranglehold on the radio dial between 103.1 and 104.7.
The company announced today that it has acquired CKOV-FM, 103.9 The Lake, from Paul Larsen of Radius Holdings Inc. The sale is subject to CRTC approval.
The Lake will join Beach Radio (103.1 FM) and The Lizard (104.7 FM) as Pattison-owned radio stations in Kelowna.
“Rescuing CKOV-FM after it went off air at the start of the pandemic has been one of the most fulfilling accomplishments of my career,” said Larsen, who has worked in broadcasting for more than three decades.
“I am proud that together with my talented staff, we were able to save this valuable community resource.”
He called it an honour to serve the station’s listeners and clients, but assured The Lake would be in a stronger position for long-term success as part of a larger media organization.
“To be able to transition the ownership of CKOV-FM to PM ensures the station will remain owned by an independent, innovative BC company, with the reputation and resources to take it to new heights.”
The sale agreement comes after a recent decision by the CRTC to allow one entity to own up to three radio stations on the AM or FM dial in a single market.
“We are acting on that decision by positioning ourselves to compete strongly for listenership and to emerge as the first choice for listeners and advertisers in the Kelowna market,” said Rod Schween, PM president.
“We are proud to be able to have the opportunity to continue the valuable service that Paul and the staff at CKOV-FM have provided to Kelowna residents.”
PM, a division of The Jim Pattison Group, currently owns 50 radio stations, three television stations, 21 online news portals across BC, Alberta, Saskatchewan and Manitoba.
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