Written By | Peter Luzinda
Next Media will be taking on Capital FM
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KAMPALA
The Uganda Communications Commission (UCC) has invited the public to comment on an application by Next Media Services Limited and its Group Chief Executive Officer, Kin Kariisa, to take over the broadcasting licences of Capital FM (2015) Limited.
In a notice issued on Monday, the regulator gave members of the public 14 days from September 14 to submit written comments on the proposed transfer.
The application would see Next Media Services and Kariisa take full ownership and control of Capital FM (2015) Limited, which operates Capital FM, Beat FM and KIIS 100.9 FM.
The comments are expected to form part of UCC’s consideration of whether to approve the licence transfer.
The proposed takeover follows a strategic collaboration announced by the two companies in June. Company records later indicated that Next Media had acquired about 70 per cent of Capital Radio 2015 Limited, while Kariisa personally held the remaining 30 per cent.
The transaction was reportedly valued at about Shs12 billion.
If approved by the regulator, the deal would bring the Capital FM radio portfolio under the same ownership as Next Media’s existing platforms, including NBS Television, Sanyuka TV, Next Radio and Nile Post.
UCC’s consultation is in line with requirements under the Uganda Communications Act, which require regulatory approval before a broadcasting licence can be transferred or control of a licensee changed.
The regulator considers issues such as competition, media plurality, ownership and the ability of the proposed owners to continue providing broadcasting services when assessing such applications.
Members of the public have until around September 28 to submit their views to UCC.
The Commission will consider the submissions before making a decision on the proposed licence transfer.
