May 5, 2015 - Harvard Broadcasting Inc. announced today the acquisition of 101.3 KRAZE FM in Red Deer Alberta.
Harvard has entered into an agreement to purchase the radio broadcasting licence CKIK-FM in Red Deer, Alberta, from L.A. Radio Group Inc. subject to approval from the Canadian Radio-television and Telecommunications Commission (“CRTC”).
With seven commercial FM radio stations licensed to serve the city and surrounding area Red Deer is one of Canada’s most competitive radio markets, if the same per capita ratio was applied to Calgary the result would be greater than 70 commercial FM radio stations.
The acquisition creates a pairing of two complimentary and distinct stations, KRAZE FM (Current Hits) and CRUZ FM (Greatest Hits) providing Harvard the ability to strengthen its commitment to the community of Red Deer and the central Alberta market and to better compete on both a local and national level.
“It’s an outstanding end result” says Troy Schaab President and CEO of LA Radio Group “When Sonia and I made the decision to sell KRAZE, it was essential that we found the perfect company to carry on what we started. Harvard Broadcasting shares the same vision, family values, sense of community and strong passion for great radio. We know KRAZE will continue to be a leader within this exceptional community, and we’re excited for its future”.
“We are delighted with the agreement” says Cam Cowie Harvard Broadcasting’s Vice President and Chief Operating Officer “our radio stations are renowned for their local focus, strong brands and innovative formats, KRAZE FM fits like a glove”.
Harvard is a western Canadian based, independent regional radio broadcaster. Over the past 9 years, Harvard has expanded its operations from its home base in the province of Saskatchewan into Alberta. Currently Harvard operates 6 radio stations in Saskatchewan and 6 stations in Alberta, including 100.7 CRUZ FM a Greatest Hits station in Red Deer.
For more details contact:
Cam Cowie – 403-692-1820
Vice President & Chief Operating Officer
Harvard Broadcasting Inc.