Afpedia Products For Sellers For Buyers Trade Shows Industrial Cluster

Online Translation

Sign In

Join Now



WBS TV will cease to operate as a public broadcaster

WBS TV will cease to operate as a public broadcasterPhoto by Daily Monitor

WBS TV (Wavah Broadcasting services) Station was incorporated in October, 1997 and started broadcasting in January 1999. It is a pioneer, privately owned, free-to-air TV Station in Uganda that also broadcasts through satellite on DSTV, GOTV, Star Times to East, Central and parts of Western Africa. It will cease to operate as a public broadcaster on December 14, 2016 because of failure to repay a sh7billion tax debt, a source has told The Independent.

A statement signed by Kabiito Karamagi, the Receiver/Manager appointed by Uganda Revenue Authority to try and rescue the TV, confirmed the development that is a blow to now former owner Gordon Wavamunno.

In his notice, Karamagi says that "As you are aware, WBS Limited was placed under receivership by Uganda Revenue Authority to recover over sh7billion in unpaid taxes. It had been hoped initially that the company would be revamped through the employment of various turnaround strategies that would restore the company to solvency and recover all the taxes due."

WBS broadcast in majorly two languages; English and Luganda (the major local and commercial language in the country). It also has a daily news bulletin in Kiswahili. In 2013, WBS was celebrated 15 years of quality broadcasting. It boost of the first of its kind virtual studio in country that births better viewing and graphics.

"Unfortunately, this option proved un-viable on account of lack of capital to meet urgent needs necessary for the preferred turnaround strategies. As A result, the only option available was to sell the company's assets to realize the monies due," Karamagi said in his statement.

"I therefore wish to confirm the numerous media rumors that you must have read about that the assets of the company have been sold to a respectable regional outfit that promises to give you a much better product and partnership that WBS could possibly have ever given you."

Karamagi stated the decision had been approved by Uganda Communications Commission. He did not name the investor, but a source said "a deal had been done with an investor who prefers to remain anonymous for now."

Follow Us:
As an authority of media industry, we can provide you integrated brand communication on your products! Reasonable advertising prices will let you enjoy great over-valued service!”
Customized Service
Customized information such as product prices, company trends, market forecasts, price curves, etc. will help you fully grasp the latest trend!
Tailor-made, in-depth, professional research reports which will explore the business opportunities is your effective decision-making reference!
Professional and accurate trade data will help you break through the export bottleneck of products, track peer dynamics, and grasp industry trends!

Buyers Suppliers

Hot Search