The Globe and Mail reports in its Monday edition that Stingray Group, one of the country's largest radio-station owners, has raised money for acquisitions as radio rivals Bell Media and Corus Entertainment work on asset sales to pay down debt. The Globe's Andrew Willis writes that Stingray recently increased its credit lines by $80-million to $500-million, with National Bank of Canada as lead lender. The Montreal-based company can access an additional $100-million on the loan facility if it meets predetermined conditions. Stingray is looking at several "meaningful, larger tuck-in" acquisitions worth up to $100-million, CIBC analyst Scott Fletcher said in a report. "We expect Stingray will be focused on mergers and acquisitions in the broadcast and cable business." Stingray executives are more optimistic about takeover opportunities than they have been in the past because of "more reasonable valuation expectations from potential targets." Stingray owns more than 100 radio stations in seven provinces. In the most recent quarter, the division had revenue of $36-million, up 4 per cent from the same period a year ago, along with modest profits. Corus owns 40 radio stations across Canada, while Bell runs 100 stations.