Central Broadcasting Services (CBS) management has finalized plans to buy Wavah Broadcasting Services (WBS TV), Xclusive UG exclusively reveals.
For over the last two years, businessman Gordon Wavamunno’s WBS TV has been up for sale but there hadn’t been a breakthrough because of the television’s acute indebtedness.
But this could be no more after CBS bosses showed great interest and are determined to take over.
“CBS believes they can turn around WBS TV into a huge money making venture. This is the plan and they believe it will work,” said a source in Mengo.
According to the source, once CBS acquires WBS TV, rebranding and restructuring the content to compete with NTV and Bukedde would be the way to recovery.
Currently WBS is on its knees and Wavamunno has practically givenup on it and has refused to inject a fresh amount of cash to resuscitate the ailing media house as he is determined to dispose it off.
Lately staff exodus has been the order of the day. The station makes a quarter of the money a radio station like Capital FM makes in a month. Yet while Capital Radio has around 30 employees, WBS TV has about 120 employees. Even the radio (Wavah FM) is suffering due to an ailing mother, WBS TV. The TV is suffering due to constant changes in management.
The station continues to face exodus of workers, delayed salaries, and other ills have caused the tv and radio to lose its top talent. The station has seen 3 different MDs, 3 Marketing Teams, 3 HRs, in a space of just a year. Its Production Manager Sophie Matovu, News Manager Prossy Kisitu, Radio Manager John Kiiza are among the latest to leave for greener pastures.
The new Showtime magazine presenter, Jayla, also left. Big Ben of the radio and others like Jay Sewa are expected to leave soon.