The Standard Media Group has reportedly shut down one of its main television channels, KTN News. According to reports, KTN News which has been operating away from KTN Home stopped broadcasting from July 5, 2024.
KTN News mainly featured news, news features and news analysis. This content has since been moved to KTN Home. The channel was opened in July 2015 as a 24-hour station dedicated to current affairs programming, news and features.
One report on the shut down of stations at the company claimed that the majority of employees have been sent home while a few have been absorbed by KTN Home.
The media house is also reportedly set to shut down other sister television stations such as KTN Farmers which are currently not returning profit. These shut downs are reportedly aimed at cutting operational costs, and making the media house leaner to operate.
The move to shut down KTN News comes barely days after the media house announced that it will send home 300 employees at the end of this month. The company issued a one-month notice that went into effect starting on July 31.
“The redundancy notice takes effect upon the expiry of one month’s notice issued on July 31 and is expected to affect more than 300 employees across various departments. All the affected employees will be duly informed in writing,” the notice by the Standard Media Group states in part.
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The company has said that it has resulted to firing its workers due to a difficult business environment and its long-drawn effect on revenue generation.
“This situation has been witnessed on the back of shifting trends in media consumption, occasioned by technological changes in the digital media landscape and emerging consumer preferences which have necessitated a rethink of our business model,” the Standard Media said in the notice to all its employees.
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