{KFM Radio which has been operational in Rwanda has closed over financial constraints, Nation Media Group (NMG) which owns the radio has announced. }
A statement issued by NMG indicates that some employees will be laid off.
It reads in part:
“In the past few months we have embarked on implementing a new strategic direction that ensures we secure our current business and position the organization to win in the future. To achieve this we are cognizant of the changing trends in which individuals are consuming our products. In line with new reality we are reorganizing ourselves with the objective of transforming the Group into a modern Twenty First Century digital content company embracing a digital first business model,” reads part of the statement.
“In this regard we wish to announce the rationalization of our broadcast division. This will entail consolidating our two television stations into one multi lingual television station under our flagship brand NTV. We are also scaling down our traditional radio business in Kenya (Nation FM and Q FM) and Rwanda KFM.We will keep a live signal and maintain an online presence in line with our digital strategy.The rationalization steps are effective as 30th, June, 2016,”adds the statement.
The last voice heard on the frequency of KFM (FM 98.7 was today morning around 7:00am during the Rwanda Today talk show.
IGIHE has learnt that all employees of this radio have not yet known their fate regarding payments and other termination procedures as defined by law.
It is said that KFM journalists were verbally informed of the changes before NMG released the statement today, few months after laying off some workers. It is said the radio could not break-even.
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