After laying off 300 employees, the Standard Media Group has now shut down one of its TV stations. It is reported that its 24-hour news channel, KTN News, quietly ceased broadcasting on Monday, July 5.
The channel has now been absorbed by its sister channel KTN Home, which is the company’s flagship TV station. READ FULL STORY
This comes only a few days after the media company sent home 300 employees over what it termed as redundancy, with insiders stating that already 200 employees including senior newspaper and broadcast editors have been sent on leave.
“Many guys have been sent on compulsory leave. Everyone who has been asked to go on leave is not coming back,” an insider intimated.
Closing down the news channel has hence led to the letting go of most of its staff, with a select few being absorbed by KTN Home in its various departments.
The closure of KTN News signals the start of a restructuring process at the media company, shifting focus away from staff layoffs.
Ending the channel and potentially reducing other radio and TV operations is intended to streamline Standard Media and help it recover from its financial troubles.
Launched in 2015, KTN News was unveiled to be a 24-hour TV station focusing on delivering comprehensive, incisive news, current affairs programming, documentaries and features
Then-CEO Sam Shollei promised KTN News would revolutionize TV programming by offering Kenyans diverse news channels. While it delivered around-the-clock news and analysis, it unfortunately struggled to achieve financial stability.
It also provided Standard Group with an alternative channel for live broadcasts while KTN Home continued with its regular programming. KTN News was broadcast in both English and Kiswahili.
In late July, the Standard Group board issued a redundancy notice, signaling a significant layoff of journalists and other operational staff. The board believes that these deep cuts will aid the company in recovering from its ongoing financial losses.
The management cites a challenging operating environment and its prolonged impact on revenue generation as reasons for the move. They attribute the situation to shifting media consumption trends, driven by technological advances in digital media and changing consumer preferences, which have prompted a reevaluation of their business model.
On Thursday, July 4, Standard Group announced Ms. Marion Gathoga-Mwangi as the new Chief Executive Officer (CEO). She succeeded Mr. Joe Munene, who had been serving as interim CEO since July 6, 2023, following Orlando Lyomu’s departure.
Other TV stations that may face closure include KTN Farmers and KTN Burudani, which have been deemed less profitable to the company. Potential reductions will also affect the Spice and Vybez radio stations.
