Information reaching The Statesman indicates that TV3 Network Limited, one of Ghana’s best performing private television stations, has been sold to some big wigs in the ruling National Democratic Congress (NDC) causing agitation among staff of the TV station.
TV3 which was sold by the National Democratic Congress (NDC) government under President Jerry John Rawlings in 1997, has been re-sold by its Malaysian owners, Media Prima Bhd, to a company called Media General Ghana Limited.
Kofi Totobi Kwakye, a leading member of the NDC, is said to have been instrumental in the reacquisition of TV3 Limited. This reacquisition has raised eye brows across the media landscape, with most staff of TV3 expressing misgivings not only about the sale but the potential conversion of this vibrant station into another [Radio Gold].
With this acquisition, a purge of the system is most likely to take place. Staff of TV3, regardless of their years of experience or skills, who are seen as being sympathetic to the NPP will be without jobs in the very near future.
Companies who have done and are still doing business with TV3 will reconsider any business/ marketing agreements they have with the station citing the obvious political transformation TV3 is about to undergo.
Over the years TV3 has been noted for highlighting developmental problems affecting Ghanaians, particularly with respect to environmental issues. These problems were highlighted during the 8-year rule of NPP administration and TV3 has continued doing same since the Mills-Mahama led NDC administration assumed the reins of office.
However, with elections coming up in 2012, the reacquisition of TV3 by the NDC will certainly curb the airing of documentaries highlighting such problems which will be deemed as detrimental to the fortunes of the NDC in the 2012 elections.
The Malaysians acquired Ghana Films Company under bizarre arrangements with the hope that after operating for 15 years the entity would revert back to the state. But instead of the company going to the state, it has been sold to a Ghanaian firm, which has no track record in television management, raising questions about the real owners.
Media Prima said that it was looking at options to raise funds as a result of what it described as “unfavorable market conditions,” and the sale forms part of TV3’s plan to axe all non-profitable businesses under a restructuring exercise to cut its RM600 million (USS158 million) debt.
The company said it needed the money to expand its operations in Ghana, replace obsolete equipment and train staff to do better programmes, but changed its mind to the Bursa Malaysia, an exchange holding company which operates a fully integrated exchange in order to focus on domestic operations.
The Group Managing Director of Media Prima Bhd, Datuk Amrin Awaluddin is quoted by the Malaysia News Agency, Bernama as saying they hope to complete the disposal by the third quarter of this year.
He noted that the need to obtain the necessary regulatory approval from government was delaying the disposal of the network.
