GHAFLA EXCLUSIVE: Kiss 100 And Classic FM Sold. Find Out All The Secret Details Of The Deal Here

Uncle Chim Tuna is back with an exclusive for you and yours.

My sources at Radio Africa, the parent company of Kiss 100, Classic FM, Radio Jambo and East FM and the social media consultancy company Trinc Media and the newspaper The Star has been purchased by an as yet shadowy South African consortium. This information was given to me by someone very close to the deal but she did so on the condition of anonymity.

The consortium which is rumored to have interests in diamond mining (this is still an unconfirmed rumour as I have been unable to reach any of the upper echelon management at Radio Africa) has bought a reported 41 percent of the entire conglomerate that is Radio Africa. The shares were put up from each share holding group -from William Pike, to Patrick Quarcoo to an Indian group of investors to a Kalenjin group of investors (I am sorry to have to use these crass tribal terms but this is the information as I received it).

 

 

<Patrick Quarcoo at a past event>

Photo/IMG Events & PR

 

The group of investors attempted to buy another Kenyan media entity but to no avail and Radio Africa’s shareholders swooped in to save the day for the South Africans and get themselves what is rumoured to be an elephantine endowment. The share holders of Radio Africa each gave an equal ratio of shares to derive the 41% stake which essentially makes the South Africans majority shareholders.

That said, I asked my source what she felt was going to be the outcome of this sale. What would happen to Maina Kageni (who had early last year hinted at retirement). King’ang’i and Shaffie Weru, Caroline Mutoko and the rest. Well, from what I was made to understand, they are safe -for now. the only people who should be worried are top and mid-level management as the investors will undoubtedly want their own team in place.

Keep it Ghafla as Uncle Chim Tuna delves deeper into the unfolding exclusive.