Dr Kwaku Oteng’s Angel FM sold out

Angel Broadcasting Network (ABN) belonging to businessman, Dr Kwaku Oteng has sold subsidiary in Tamale to another media organization, MyNewsGh.com has confirmed.

The Tamale-based Angel FM operating on the frequency of 96.9 MHz has been bought by Ultimate Multimedia, owners of Kesmi FM and Amana Radio all in Tamale.

A staff of the new acquiring company, Kwaku Oduro who dropped details of the transaction on his Facebook page and confirmed same on Radio Tamale said “all is set for a takeover, our CEO has gone to Kumasi to sign the final documents and after which we hit the airwaves. But the truth is that, I have not seen the MOU but all is positive”

It is still unclear why the radio station which started barely two years is being sold out but sources indicate that it is not generating the required revenue vis-à-vis the cost of management which may have informed the decision to let it go by the angel group of companies.

Angel Broadcasting Network (ABN Ghana) is owned by Millionaire Dr. Kwaku Oteng and has over eleven stations across Ghana as its subsidiaries.

Dr. Kwaku Oteng is also the owner of conglomerates of businesses including Adonko Bitters, Plus 2 pub, Angel TV, Angel Educational Complex, Angel Estate and Construction firm, Angel Cream and Soap and many others.