The sports category has moved to a new website.
ADVERTISEMENT

Nation Media Group management speaks out on selling company to Uhuru

NMG was on Wednesday briefing stakeholders at a Nairobi Hotel.

Speaking at a Nairobi hotel during an investor briefing on Wednesday, Group chairman Wilfred Kiboro urged Kenyans to ignore the rumors on social media.

Earlier, reports emerged that the Media house was in talks wot the family of President Kenyatta to conclude a deal which would have seen the president buy off the 44 per cent of shares held by Aga Khan.

During the Aga Khan’s recent visit to Kenya, there was heightened speculation that he would meet President Uhuru Kenyatta to discuss among other things, the sale of his media interests.

ADVERTISEMENT

Aga Khan is the principal shareholder of the Nation Media Group with other interests in the hospitality, banking and insurance sectors.

However, Mr. Kiboro refuted the claims and instead urged the government to pay the media house Ksh. 700million owed to them.

“What we can promise everybody here is we will report the truth,” he told the meeting at Stanley Hotel, Nairobi.

He also reiterated that the exit of eight columnists recently would not affect circulation as “they are not as important as they think they are and there is a lot of talent out there.”

ADVERTISEMENT

In 2016, profit after taxation dropped by Ksh500 million to Ksh1.68 billion. In the half year to June 2017, the media house reported a Ksh825.6 million profit after tax, which was a marginal growth of 5.12% from Sh785.4 million in the same period the previous year.

Nation Media Group has undergone a painful restructuring over the past two years that has trimmed both its business and staff.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Ruto delivers gripping speech on broken promises, global mistrust & debt distress

Ruto delivers gripping speech on broken promises, global mistrust & debt distress

CCTV captures murder suspect at Nairobi Hospital finance boss' house

CCTV captures murder suspect at Nairobi Hospital finance boss' house

CS Owalo appoints Dennis Itumbi to government position

CS Owalo appoints Dennis Itumbi to government position

Ruto recalls 1st interaction with 'Sipangwingwi' producer while mourning his death

Ruto recalls 1st interaction with 'Sipangwingwi' producer while mourning his death

KTN, Radio Maisha & 5 other stations to face periodic interruptions for 7 days

KTN, Radio Maisha & 5 other stations to face periodic interruptions for 7 days

Photos of Sakaja put to rest Babu Owino's sensational accusations

Photos of Sakaja put to rest Babu Owino's sensational accusations

Meet FBI-trained investigator hired to tame rogue judges & Judiciary staff

Meet FBI-trained investigator hired to tame rogue judges & Judiciary staff

How homebuyers and investors will benefit from The Real Estate Regulation Bill 2023

How homebuyers and investors will benefit from The Real Estate Regulation Bill 2023

U.S. televangelist announces gov't-sponsored mega crusade in Kenya

U.S. televangelist announces gov't-sponsored mega crusade in Kenya

ADVERTISEMENT