The Standard Media Group has made the significant decision to shut down one of its flagship channels, KTN News, due to severe financial difficulties, including an inability to pay its employees. This closure is part of a larger restructuring strategy designed to ensure the company’s survival by consolidating resources and enhancing operational efficiency.
Since its launch in July 2015, KTN News, East Africa’s first 24-hour news channel, has been a major player in the region’s media landscape. However, escalating financial challenges have led to its merger with KTN Home. As a result, many employees at KTN News have been made redundant, with only a few being transferred to various departments within KTN Home.
The financial strain on the Standard Media Group extends beyond KTN News. The company also plans to shut down Farmers TV and KTN Burudani as part of its cost-cutting efforts. In a recent announcement, the company revealed plans to lay off 300 employees to reduce expenses and avert financial collapse.
Management remains hopeful that these changes will lead to a more streamlined and efficient structure, ultimately fostering improved performance and growth.
Mwangi Maina, a former journalist at KTN News, expressed his sorrow over the closure, reflecting on the station’s impact on many media careers. He criticized the management issues that contributed to the station’s downfall and extended his best wishes to his former colleagues amidst the uncertainty.
“I’m deeply saddened by the closure and merger of KTN News with KTN Home. This channel has been instrumental in shaping many careers in the media industry. Unfortunately, poor management has led to its downfall. My thoughts are with all my former colleagues affected by this restructuring,” Maina said.
