CHNO in Sudbury was an AM oldies station when Haliburton acquired it from Pelmorex; a stipulation in the CRTC's approval of the transaction allowed it to move to FM. In 2000, it relaunched at 103.9 as a CHR/Top 40 station branded as Z103. After a short time, it was sold in 2001 to the larger Newcap Broadcasting for significantly more than it had been acquired for. The CRTC, wary of potential "license trafficking," accepted the sale on the grounds that Haliburton had been losing money with CHNO, and would reinvest the proceeds into its contemporaneous purchase of CKLP in Parry Sound.Decision CRTC 99-404 Decision CRTC 2001-691
