New owner of G98.7FM emerges, and some worry ‘that is it for Black-owned radio in Toronto’

The incoming owner of a Toronto radio station has promised to uphold its long-standing legacy of serving Black communities while providing “much-needed” financial stability following a period of upheavals.

Neeti P. Ray, an experienced investor in the broadcasting industry with radio stations in Ontario and Quebec, was announced as the winning bidder for the ownership of G98.7 FM, which has been on the air since 2011. The sale, executed through a court-ordered receivership, is pending final approval from the CRTC.

“While I prepare to undertake the task of bringing the much-needed stability to G98.7, the long-term mission remains the same as envisioned in its original CRTC application. It is to serve the Caribbean, African and Black communities of the GTA,” Ray wrote in a short email message to the Star.

“The new ownership will provide stability that the station has been lacking for years. This will allow the station to

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