Econet Media, has been granted the rights for the purchase of Wava Broadcasting Station (WBS TV) by the Uganda Communications Commission and the Uganda Broadcasting Council and the company will soon be rebranded to Kwesé Free Sports for a 24/7 delivery of Kwesé sports content.
The WBS was owned by Gordon Wavamunno, a Ugandan entrepreneur and the company was actually placed under receivership by Uganda Revenue Authority (URA) due to US $2 million in unpaid taxes.
Econet’s Chairman, Strive Masiyiwa acquired WBS TV Station following the approval telecoms industry regulator Uganda Communications Commission (UCC) and the Uganda Broadcasting Council, this is according to Ugandan media reports.
WBS required a capital injection of at least US $566,881 to turn it around.
The acquisition by a new owner will seemingly lead to WBS TV current 90 staff being asked to re-apply afresh for their jobs.
In a letter posted on the firm’s Facebook page on Tuesday, Kabiito Karamagi, the receiver manager stated that WBS TV will cease to operate as a public broadcaster on December 14, 2016 adding that all of the company’s existing contracts will also terminate on that date.
“As a result of this development, WBS Limited will cease to operate as public broadcaster on 14 December 2016 in line with the commitments made to the industry regulator… Therefore, I regret that all the company’s existing contracts will have to terminate by that date,” stated Karamagi, in the letter.
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