Nairobi Securities Exchange listed Media house Nation Media Group on thursday announced it was closing down its radio business and consolidate its two kenyan based TV stations so as to focus more on digital content.
QTV and NTV television stations will be merged into one multi-lingual station under its flagship brand NTV while its traditional radio business in Kenya and Rwanda will be shut down but will be available on the online space.
The reorganisation will be effective as of 30th June 2016 and will result into reduction of workforce as many employees will be declared redundant.
Share Price
On Thursday, Nation Media Group shares at NSE closed at Ksh 150, this is 15.38% above the 52 week low of 130.
