KTN News Shuts Down

KTN News, East Africa’s first 24-hour news channel, has officially closed its doors and merged with its sister station, KTN Home. This development has led to widespread discussion and speculation about the reasons behind the closure and the implications for the media industry in the region. The merger has resulted in significant layoffs, reflecting the challenging business environment faced by media organizations.

Standard Media group a week ago announced that it was going to let go of 300 people. The newspaper division used to be the top money-maker for the company and now with news being free on the internet, people barely buy newspapers any more. They have tried to shore things up with online subscriptions, but it is hard to get people to pay for news online when there are so many other free alternatives. Advertising rates online are also not as good as they were in the newspaper. Online, international giants like Google and Facebook call the shots, and they charge very low rates to make media buying more efficient for advertisers.

Nation Media group is also in the same dilemma as a newspaper company. They yesterday announced losses of 600million in the first 6 months of 2024, and their share price has gone down 95% in the last 10 years. There are rumors that both Nation and Standard might be up for sale to privatize the operations if the right buyer shows up.