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It's quite an unusual contest, and if you win, the prize is hearing yourself on the radio. Unfortunately, at least for now, you have to be in Calgary to enter.
CBC Radio 1 in that city (which coincidentally, is also at 99.1) is offering listeners several scripts they can read about local shows and send in online. The winners will be played on the station and are being encouraged to feel free to ad lib.
If this is a success, who knows, maybe one day, they'll do it in Toronto, too.
Record a station ID for CBC Radio One