Corus Radio has announced it has shuttered French All-News “Info 690″ CINF and English Oldies “AM 940″ CINW Montreal. Both stations are airing a looped message from management until they sign-off for good at 7:00pm tonight. Corus has stated that neither station was profitable and it was unable to continue to operate both stations in the current economic climate. 10 employees were let go as part of the closure of both stations, the licenses of which will be turned into the CRTC.
Instant Insight: Rarely do you see a company completely give up on a station to the point where they will turn in their license, especially for two 50kw stations. Even a station sale for pennies on the dollar would net more profit than just giving up on the stations. But this is the world of radio in 2010 and there may be more companies following this trend.