 The two key shareholders in CTL made an agreement with all other shareholders that all shares were to be bought back in the event that they were unsuccessful in their licence bid — they need not have worried, since after a hearing of considerable length, the ABCB decided to grant CTL the licence in November 1960.The callsign for the station was to be CTC and the new service was to transmit on VHF channel 7.Prior to the acquisition of the licence, CTL needed to find suitable sites for both a studio and a transmitter.