Nation Media Group to merge QTV and NTV, shuts down Nation FM and QFM

The three radio stations will go off-air for good on Thursday, June 30, while QTV will be merged with NTV.

According to a statement sent out Nation Media Group says that it has embarked on implementing a new strategic direction that will ensure that the company secures its current business and position in the future.

It says the move was prompted by changing trends, and the need to transform the company into a modern digital content company.

Consequently, the move will see the consolidation of NMG’s two television stations into one strong multi-lingual television station, NTV.

“We wish to announce the rationalisation of our broadcasting division, we will keep a live signal and maintain an online presence in line with our digital strategy, the rationalisation steps are effective as of today, June 30, 2016,” a statement from NMG’s Corporate Affairs department read.

The sudden changes are expected to deliver value to its audiences as well as meet their expectations.
He was, however, remorseful that the new changes would result in job redundancies in the broadcasting division.

“We do recognise that today’s announcement will be difficult for the affected employees and their families, we will strive to provide all the necessary support to help them manage through this transition,” read the statement.

According to the statement NMG has had a difficult time sustaining the radio stations and hence the need to consider keeping them on online live frequencies. This exercise will be carried out with due respect to our employees and within the Kenyan laws.

The move to close the FM Stations and merge the two tv stations comes at a time when Nation Media Group has been recording a decline in revenue in the past two years.

In the Annual Report and financial statements 2015, the group had recorded revenue of Kshs. 12.3 billion a 7.6% reduction in comparison to the shs. 13.4billion realized in 2014. The 2015 profit before tax stood at 2.8 billion a reduction of 22% against the Shs. 3.6 billion recorded in 2014.

The Group CEO, Mr. Muganda cited the decline on the shortfall in revenue with the broadcasting division adversely affected by disruption of the television signal transmission following the digital migration in 2015.