Newcap

Newfoundland Capital Corporation Ltd.

Trading name	Newcap Radio
Type	Public
Traded as	: NCC.A, NCC.B
Industry	Media
Founded	1986
Founder	Harold R. Steele
Headquarters	Dartmouth, Nova Scotia
Key people	Harold R. Steele (chairman) Robert G. Steele (president and CEO)
Services	Radio broadcasting, television broadcasting, hospitality
Owner	Harold R. Steele (majority shareholder)
Number of employees	1200
Website	www.ncc.ca

Newfoundland Capital Corporation Ltd. is a Canadian broadcasting company, majority-owned by Harold R. Steele. Newfoundland Capital is the parent company of Newcap Inc. (doing business as Newcap Radio and formerly known as Newcap Broadcasting). It is the number two private-sector radio broadcaster in Canada, just behind Bell Media Radio. It operates 94 stations across Canada. The group also owns two "Newcap Television" stations, both in Lloydminster on the Alberta/Saskatchewan border.

The group's Newfoundland and Labrador division, known as Steele Communications, includes all but two of the full-power commercial stations in that province.

On November 6, 2004, the company launched the Canadian Hit 30 Countdown, which, for about six years, was Canada's only nationally syndicated contemporary hit radio hit countdown. Newcap is also a corporate sponsor of Canada's Aboriginal Voices radio network.

In the past, Newfoundland Capital acted as a conglomerate with interests in diverse industries such as newspapers and freight transportation. The firm owns one asset unrelated to the broadcasting industry: a hotel in Corner Brook, the Glynmill Inn, which is operated as part of the Steele Hotels group which includes other properties held directly by the Steele family. The Steele family also has private holdings in other industries which are entirely outside of the Newcap corporate umbrella.

In July 2008, Newcap announced a deal to trade CFDR in Halifax to Rogers Media in exchange for CIGM in Sudbury. Both stations were the sole remaining AM stations in their respective markets, and in both cases the current owner already had the maximum permitted number of FM stations in the applicable market, whereas the acquirer only had a single FM station. Both companies successfully applied to move the stations to FM as part of the trade. Newcap flipped CIGM Sudbury to FM on August 25, 2009, and Rogers flipped CFDR Halifax to FM on August 7, 2009.