Slaight Communications

Slaight Communications is a Canadian communications and broadcasting company associated with entrepreneur J. Allan Slaight. It began in 1971 as Slaight Broadcasting, following Slaight's acquisition of CFGM in Richmond Hill, Ontario. The company expanded through additional radio acquisitions and new station launches, including CFOX in Montreal, CHOK in Sarnia, and CILQ in Toronto. Its early development reflected the consolidation and professionalization of privately owned Canadian radio during the second half of the twentieth century. The company became substantially larger through its 1985 acquisition of Standard Broadcasting from Argus Corporation. Standard had roots in Standard Radio Manufacturing, a business founded in 1925 by Edward S. Rogers Sr. The enterprise evolved through several corporate names and ownership structures before its broadcasting operations became Standard Broadcasting. Under Slaight's ownership, Standard became the principal operating platform for the group's radio and television assets and was described as Canada's largest privately owned multimedia company. At its height under the Standard name, the group operated 82 English-language radio stations and two television stations in northern British Columbia. Its wider portfolio included interests in smaller Canadian radio groups, a minority position in the U.S. Martz Communications Group, e-commerce and retail-marketing activities, videotape and DVD distribution, audio and video post-production, and an investment in Sirius Canada. This made the company broader than a conventional radio-station owner, although broadcasting remained its central historical activity. Slaight Communications considered accessing public capital in 2006 through a proposed income-trust initial public offering, but abandoned the plan because of market conditions. In 2007, it agreed to sell substantially all of Standard's conventional radio and television assets to Astral Media. The transaction received Canadian Radio-television and Telecommunications Commission approval in September 2007 and closed on October 29, 2007. The company adopted the Slaight Communications name the following day. Astral's broadcasting assets were later acquired by Bell Media in 2013, and many of the former Standard stations ultimately became part of Bell Media or Stingray Radio. The 2007 transaction did not transfer every asset. Slaight retained interests in satellite and Internet radio, minority investments in several radio groups, and other non-traditional communications holdings. It continued as a partner in Sirius XM Canada alongside Canadian Satellite Radio Holdings, Sirius XM Radio, and the Canadian Broadcasting Corporation. Its Internet-radio portal, Iceberg Radio, was later sold separately to Astral Media. In 2010, Slaight invested in Mediazoic, a webcasting-software project, and it has also held a 7.19 percent interest in Fight Holdings, a minority partner in Anthem Sports & Entertainment. Today, Slaight Communications is best understood as a privately held Canadian communications-investment platform rather than the large conventional broadcaster it was before 2007. Publicly available reference material identifies its historical broadcasting transactions and continuing investments, but does not provide a complete current operating profile, a public company listing, or a definitive current headquarters address.

Slaight Communications traces its direct corporate history to 1971, when J. Allan Slaight acquired CFGM in Richmond Hill and formed Slaight Broadcasting. Slaight subsequently broadened the operation through acquisitions such as CFOX in Montreal and CHOK in Sarnia, and through the launch of CILQ in Toronto. These early activities established the company as a Canadian radio operator with interests in multiple regional markets. The decisive expansion came in 1985, when Slaight acquired Standard Broadcasting from Argus Corporation. Standard's heritage extended back to Standard Radio Manufacturing, founded in 1925 by Edward S. Rogers Sr. The company initially manufactured radio equipment and operated CFRB as a means of demonstrating Rogers's batteryless alternating-current radio receiver. After several corporate changes, including the names Rogers Vacuum Tube Company and Rogers Majestic Corporation Limited, the broadcasting division became Standard Radio Limited in 1941. Standard was acquired by Argus Corporation in 1945, renamed Standard Broadcasting in 1966, and eventually sold to Slaight after Argus came under the control of Conrad Black and his brother in 1978. Under Slaight ownership, Standard served as the group's principal broadcasting identity. It grew into what was described as Canada's largest privately owned multimedia company, operating 82 radio stations in English Canada and two television stations in northern British Columbia. In addition to conventional broadcasting, its activities included e-commerce, videotape and DVD distribution, retail marketing, audio and video post-production, and investments in other radio operators. The company held significant minority positions in Milestone Radio, Haliburton Broadcasting Group, 3937844 Canada Inc., and Martz Communications Group in the United States. It was also a principal shareholder in Sirius Canada. The company explored a public-market transaction in 2006, announcing an initial public offering through an income-trust structure. The proposal was later withdrawn because of market conditions. In February 2007, Astral Media announced that it had entered exclusive negotiations to acquire substantially all of Standard's assets. The Canadian Radio-television and Telecommunications Commission approved the transaction on September 28, 2007, and the sale closed on October 29. Astral did not acquire the group's Internet-radio and satellite-radio assets or certain minority investments. On October 30, Standard Broadcasting changed its name to Slaight Communications. The post-2007 company retained ownership and operation of Iceberg Radio, an Internet-radio portal, although that asset was later sold separately to Astral. Slaight also remained involved in Sirius XM Canada with Canadian Satellite Radio Holdings, Sirius XM Radio, and the Canadian Broadcasting Corporation. Its minority positions in Haliburton, Milestone, and Martz continued for a time, while the relevant station groups later disposed of many or most of their assets. The minority interest in 3937844 Canada was not transferred to Astral and was instead acquired by its majority owner, Newcap Broadcasting, in a separate 2007 transaction. Slaight continued to pursue digital and media-related investments after exiting large-scale conventional broadcasting. In 2010 it invested in Mediazoic, a webcasting-software project. It also held a 7.19 percent stake in Fight Holdings, a minority partner in Anthem Sports & Entertainment. The former Standard radio and television assets subsequently changed ownership again: Astral Media was acquired by Bell Media in 2013, while former Standard radio stations are described in reference material as now being owned by Bell Media or Stingray Radio. Slaight Communications therefore represents the continuing investment vehicle and communications business associated with J. Allan Slaight, distinct from the large broadcast network formerly operated under the Standard name.

1. 2013Astral Media acquired by Bell Media

   Bell Media completed its acquisition of Astral Media, placing many former Standard broadcasting assets under Bell ownership.

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2. 2010Investment in Mediazoic

   Slaight invested in Mediazoic, a webcasting-software project.

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3. 2007Astral Media acquires most Standard broadcasting assets

   After CRTC approval, Astral Media completed its acquisition of substantially all Standard radio and television broadcasting assets on October 29.

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4. 2007Company renamed Slaight Communications

   Standard Broadcasting changed its name to Slaight Communications on October 30, following the asset sale.

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5. 2006Income-trust IPO proposal withdrawn

   A planned public offering was cancelled after market conditions made the proposed transaction unattractive.

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6. 1985Slaight acquires Standard Broadcasting

   Slaight purchased Standard Broadcasting from Argus Corporation and integrated it into the group's broadcasting operations.

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7. 1971Slaight Broadcasting established

   J. Allan Slaight acquired CFGM in Richmond Hill and formed Slaight Broadcasting.

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8. 1966Standard Radio renamed Standard Broadcasting

   The broadcasting company adopted the Standard Broadcasting name.

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9. 1945Standard Radio acquired by Argus Corporation

   Argus Corporation purchased Standard Radio, beginning a period of ownership that preceded Slaight's acquisition.

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10. 1941Broadcasting division becomes Standard Radio Limited

    After the Rogers family sold the assets of Rogers Majestic, the broadcasting division adopted the Standard Radio Limited name.

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11. 1927CFRB launched

    Edward S. Rogers Sr. launched CFRB to demonstrate his batteryless alternating-current radio receiver.

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12. 1925Standard Radio Manufacturing founded

    Edward S. Rogers Sr. founded Standard Radio Manufacturing, the predecessor organization whose broadcasting history later became part of Standard Broadcasting.

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Historically positioned as a major privately owned Canadian radio and multimedia operator; after the 2007 asset sale, it became a more diversified communications and media-investment company focused on non-traditional broadcasting and minority holdings.

• Radio broadcastingBroadcasting1971

  Radio was Slaight Communications' core historical business. Through Slaight Broadcasting and later Standard Broadcasting, the group acquired and launched stations across English Canada, including CFGM, CFOX, CHOK, and CILQ. At its peak under the Standard identity, the group operated 82 radio stations before selling substantially all of those assets to Astral Media in 2007.

• Television broadcastingBroadcasting

  Television formed part of the Standard Broadcasting portfolio under Slaight ownership. The company operated two television stations in northern British Columbia. These conventional television assets were included among the broadcasting properties sold to Astral Media in 2007.

• Iceberg RadioInternet radio

  Iceberg Radio was an Internet-radio portal retained by Slaight after the 2007 sale of Standard's conventional broadcasting assets. It represented the company's continued involvement in digital audio and non-traditional broadcast distribution. The portal was subsequently sold separately to Astral Media.

• Sirius XM Canada investmentSatellite radio

  Slaight Communications remained a partner in Sirius XM Canada after the Standard broadcasting transaction. The partnership also involved Canadian Satellite Radio Holdings, Sirius XM Radio, and the Canadian Broadcasting Corporation, giving Slaight exposure to subscription satellite audio rather than only terrestrial broadcasting.

• Media and communications investmentsMedia investment

  After the large broadcasting divestiture, Slaight retained or pursued minority investments in radio operators, digital-media projects, and related entertainment businesses. Reference material identifies interests in several Canadian and U.S. radio groups, a 2010 investment in Mediazoic's webcasting software, and a 7.19 percent stake in Fight Holdings.

• 2010Invest in webcasting softwareStrategy

  Following the divestiture of its conventional broadcasting portfolio, Slaight maintained an interest in digital delivery and emerging media technologies.

  What changed. The company invested in Mediazoic, a webcasting-software project.

  Aftermath. The available reference material does not provide further information about the investment's size, operating results, or subsequent outcome.

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• 2007Sell substantially all conventional broadcasting assets to Astral MediaM&A

  Standard Broadcasting operated a large portfolio of Canadian radio and television assets, while Slaight retained interests in digital, satellite, and minority-investment businesses.

  What changed. Slaight agreed to sell substantially all Standard radio and television broadcasting assets to Astral Media. The CRTC approved the transaction on September 28, and completion occurred on October 29.

  Aftermath. The company changed its name to Slaight Communications and retained selected Internet-radio, satellite-radio, and minority interests. Astral later became part of Bell Media.

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• 2006Withdraw proposed income-trust initial public offeringStrategy

  Slaight explored a public-market listing through an income-trust structure as a way to raise capital and broaden ownership of the broadcasting business.

  What changed. The company cancelled the proposed offering, attributing the decision to market conditions.

  Aftermath. Slaight continued as a privately held company and subsequently pursued the sale of most of its conventional broadcasting assets.

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• 2010Slaight invests in Mediazoic

  Slaight Communications invested in Mediazoic, a project focused on webcasting software.

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• 2007Astral Media agrees to acquire most Standard broadcasting assets

  Astral Media announced an agreement to acquire substantially all of Standard's radio and television broadcasting assets. The transaction was approved by the CRTC and completed in October.

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• 2007Standard Broadcasting renamed Slaight Communications

  Following the sale of its conventional broadcasting assets, Standard Broadcasting adopted the Slaight Communications name.

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• 2006Proposed income-trust initial public offering cancelled

  The company announced plans for an initial public offering structured as an income trust but later abandoned the proposal, citing market conditions.

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• 1985Slaight acquires Standard Broadcasting

  Slaight acquired Standard Broadcasting from Argus Corporation, creating the operating foundation for a much larger privately owned Canadian broadcasting group.

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• 1971Slaight Broadcasting formed through acquisition of CFGM

  J. Allan Slaight established Slaight Broadcasting after acquiring CFGM in Richmond Hill, Ontario.

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1. Slaight Communications