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Salt Spring Island radio

The TV news report on the video says CFSI is being sold to a Punjabi commercial radio operator, who promises to leave the station's volunteer-based speciality show format intact. It doesn't say who the prior ownership entity is, or why they are selling it so soon after getting it started. Can anyone answer why that is so in this case?

In the States, a low power station like this would have been required to have been built and operated as a non-profit entity. Which usually safeguards it from being taken over by the big commercial entities, unless a station is in such debt that they'll sell to a big-moneyed religious outfit. Are there no such profit/nonprofit protections in Canada? I know Canada doesn't have a "reserved" portion of the FM spectrum for non-profits. But this still seems fishy for a low power FM to so quickly be sold to a "minority" commercial operator, whose particular minority target audience has so few members within the limited range of the station.
 
CFSI-FM Salt Spring Island and its transmitter CFSI-FM-1 Mount Bruce - Revocation of licence

The Commission revokes the broadcasting licence for CFSI-FM Salt Spring Island and its transmitter CFSI-FM-1 Mount Bruce, British Columbia. The revocation is effective 25 July 2015, and the licensee must cease broadcasting by no later than the end of the broadcast day on that date.

This revocation follows the Commission’s decision to impose six mandatory orders earlier in the licence term, which are set out in Broadcasting Decision 2014-330. In spite of these orders CFSI-FM continued to be in non-compliance with its regulatory obligations. As a result, the Commission has no confidence that the licensee will be able to operate in compliance with its existing or any new regulatory obligations for the remainder of the current licence term or for another licence term. Accordingly, the Commission considers that revocation of the licence is the only appropriate measure.

As a result of this revocation, Canadians living on Salt Spring Island will no longer have access to the radio service of CFSI-FM. However, given that the licensee operated with numerous recurring and serious instances of non-compliance during its licence term, the Commission is confident that a higher quality radio service could be provided to island residents.

In light of the revocation, the Commission finds that it is not necessary to rule on the application to amend Salt Spring’s ownership structure.

http://www.crtc.gc.ca/eng/archive/2015/2015-281.htm
 
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