Mediamax Network Ltd has revealed an elaborate 4-week plan to shut down operations at K24 TV station as a new partnership with KTN News begins to develop.
Starting June 1st Mediamax management has begun firing of staff and selling assets to pave way for the deal between the two rival stations.
The internal documents dated the 28th of May show that the parent company is not going to save the struggling Tv station and has begun to strip it of key assets and employees to end up with what it hopes will be a “lean operation.”
The restructuring is set to be gradual and will be finalized by 30th June. Redundancies are expected to be finalized by 8th June.
Yesterday, Mediamax ceased to be tenants for Kisumu and Eldoret bureaus and asked some employees not to report to work today at its DSM head office. Sources say the firm has already also canceled utilities for these offices, including security and internet services.
K24 will be terminating all programs except Punchline which is hosted by Ann Kiguta and K24 in the Morning. weekend news presenter Betty Kyalo has already been fired.
K24 TV news anchor Eric Njoka recently revealed that the firm is on its deathbed in a series of Instagram lives,
“KTN News or Standard Group has officially bought some programs on K24 TV. So, K24 staff and MediaMax as a whole will be declared redundant in a month’s time…They are getting rid of every person that you know, every face that you know on K24 TV, every producer, anchor, reporter, news editor that you know,” Njoka lamented.
The Kenyatta owned company has unveiled a new programming schedule see below.