Capital FM takeover faces UCC public scrutiny

KAMPALA — The proposed takeover of Capital FM by Next Media Services and its Group Chief Executive Officer, Kin Kariisa, has entered a regulatory review, with the Uganda Communications Commission (UCC) inviting the public to comment on the transaction.
UCC said in a notice issued on Monday that it had received an application for the transfer of the broadcasting licences held by Capital FM (2015) Limited.
The Commission has given the public 14 days, starting September 14, to submit written comments on the application.
If approved, Next Media Services and Mr Kariisa will jointly have full ownership and control of Capital FM (2015) Limited, the company behind Capital FM, Beat FM and KIIS 100.9 FM.
The application comes after Next Media and Capital FM announced a strategic collaboration in June.
Company records subsequently showed that Next Media Services had acquired about 70 per cent of the shares in Capital Radio 2015 Limited, with Mr Kariisa holding the remaining stake.
The deal was reported to be worth about Shs12 billion.
The acquisition would bring one of Uganda’s established radio brands into Next Media’s growing media portfolio, which includes NBS Television, Sanyuka TV, Next Radio and Nile Post.
UCC’s review is required because Ugandan broadcasting regulations restrict the transfer of licences or changes in control without the Commission’s approval.
The public consultation allows individuals and organisations to submit views on the proposed change in ownership, including any concerns about competition, media diversity and the continued provision of broadcasting services.
UCC has asked members of the public to send their submissions to its legal and licensing department before the consultation period closes around September 28.
The Commission will then consider the submissions alongside the application before making a final decision.