Kenya: Kameme FM and K24 TV sold to TV Africa
Kenya's competitive media scene is set for yet another grand shift with the exit of Regional Reach -- the media and marketing company that owns K24 TV and vernacular radio station Kameme FM.
Beginning October 9, the company that entered the media scene under the leadership of journalist turned marketer Rose Kimotho will hand over its assets to TV Africa Holdings, a media firm linked to the Kenyatta family.
The switch puts TV Africa Holdings, which launched its operations in Kenya with the acquisition of STV from veteran journalist Hillary Ngw'eno, in a much stronger position to fight the bruising battle for control of the vernacular radio market as well as an additional platform in the TV market.
People familiar with the matter said the two media platforms will continue to operate from Nairobi's Longonot Place, a stone's-throw away from Kenya Broadcasting Corporation that entered into a business deal with Regional Reach to facilitate the launch of K24. It is not clear where the change in ownership leaves the KBC-Regional Reach partnership.
Rose Kimotho announced the sale and transfer of Regional Reach's assets in a gazette notice published on August 14. The list of assets earmarked for transfer includes radio and television broadcasting, rural marketing and other media initiatives. Regional Reach has been operating on a tight financial budget since the launch of K24. The TV station is said to have put a heavy burden on the company's finances, forcing its owners to bow out.
(source : Business Daily)