Mediamax buys out Ebru TV in expansion drive

Investment

Mediamax Network Ltd has expanded its portfolio by acquiring Ebru TV, a new entrant in the digital TV industry.

The media house, substantially owned by the Kenyatta family, bought the station after lengthy negotiations led by Chief Executive Officer Ian Fernandes. He is said to have spent the better part of the week there.

Ebru is majority-owned subsidiary of Samanyolu Broadcasting Company (SBC), an international media corporation with headquarters in the United States and has operations in Germany, Turkey, and Azerbaijan in addition to Kenya, where it launched in 2006.

Mediamax owns K24 TV, the free sheet PD (People Daily), Kameme FM, Meru FM, Pilipili FM, Milele FM and Mayian FM and has been seeking to expand for some time now. The acquisition of the station comes amid reports that investors led by President Uhuru Kenyatta’s family recently pumped Ksh3.9 billion to boost K24 operations and kick-start plans to launch a Kikuyu language television station, Kameme TV.
Source: Business Day 18 February 2016