The Standard Media Group has taken a drastic step by shutting down one of its flagship channels, KTN News, amid severe financial difficulties, including an inability to pay its employees. This decision comes as part of a broader restructuring strategy aimed at ensuring the company’s survival by consolidating resources and improving operational efficiency.
KTN News, known as East Africa’s first 24-hour news channel since its launch in July 2015, has been a significant player in the region’s media landscape.
However, mounting financial woes have forced the channel to merge with its sister station, KTN Home.
This merger means that most of the staff at KTN News have been rendered redundant, with only a select few absorbed into various departments within KTN Home.
The financial strain on the Standard Media Group is not limited to KTN News alone. The company is also expected to close Farmers TV and KTN Burudani as part of its cost-cutting measures.
In a recent statement, the company announced plans to lay off 300 employees in an effort to reduce expenses and stave off impending collapse.
The management expressed optimism that these changes would lead to a leaner and more efficient structure, ultimately driving better performance and growth.
Mwangi Maina, a former journalist at KTN News, shared an emotional response to the closure, highlighting the station’s role in shaping numerous careers in the media industry.
He lamented the management issues that led to the station’s downfall, wishing his former colleagues well amid the uncertainty.
“I’m saddened that KTN News, East Africa’s first 24-hour news channel, has closed and merged with its mother station, KTN Home. This station has shaped many of us. Unfortunately, incompetence tends to breed incompetence, and that’s where the problems at KTN News began. Best wishes to all my former colleagues affected by this restructuring.” He said.
