Canadian broadcaster Stingray to buy Newfoundland Capital for C$506 million

Thursday, May 03, 2018

Canadian media company Stingray Digital Group Inc on Wednesday said it would buy Newfoundland Capital Corp for about C$506 million ($393.01 million), including debt, adding radio broadcasting assets to its business.

Stingray has offered Newfoundland Capital shareholders C$14.75 per share held, a 16 percent premium to Newfoundland’s close on Tuesday.



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