Complex sentence: In 2000, after the Canadian Broadcasting Corporation's CBL relinquished the AM 740 frequency and moved to FM, the prized clear channel frequency became hotly contested by new and existing stations in the area.
Split into simpler sentences: In 2000, after the Canadian Broadcasting Corporation's CBL gave up its longtime home on AM 740 frequency and moved to FM. Despite this shortfall, the prized clear channel frequency became hotly contested by new and existing stations in the area.