Standard Group obtains 50% stake in Bamba TV
RADIO Africa Group has signed a Sh300 million deal with the Standard Group's KTN for a 50 per cent stake in Bamba TV.
The deal announced yesterday will see Standard Group commit another Sh300 million in the next two years, bringing the total investment in Lancia Digital Broadcasting, the trademark owner of Bamba TV, to Sh600 million.
Radio Africa managing director, Patrick Quarcoo said the deal will ensure Bamba TV is able to leverage on KTN's strong brand and content offering.
“This is a truly significant development in Kenyan TV that will define viewing experiences across the country and the wider East African region,” he said during the signing of the agreement in Nairobi.
Standard Group MD Sam Shollei said the investment in Lancia, which is in both equipment and cash, will help to boost KTN's capacity in shaping conversations of the TV industry.
“KTN has been in the Kenyan market for 25 years and has over this time shaped conversations of the television industry. We want to leverage on Bamba's multichannel platform and reach across the country,” he said.
Bamba TV, which is a free-to-view digital service, has recorded significant uptake and demand since it was launched in the market in December 2014.
The service is accessible on digital set-box that is sold at a one-off cost of Sh 3,299.
Quarcoo said the KTN Home Channel and KTN News will now be available on the Bamba TV bouquet and there will be opportunity to schedule some of Bamba's programming on the KTN channels.
“We will develop new content formats to meet audience needs and bring new viewing habits, all the time seeking to entertain, inform and educate our audiences,” he said.
He said they expect advertisers to generate more value on their spend from the new commercial opportunities that have been unlocked by the partnership.
Source: StarTimes 19 February 2016