The Standard Group has shut down one of its major TV stations over cash flow problems.
According to reports, KTN News has now ceased to exist and it will be merged with sister station KTN Home.
Most of the KTN News employees have been made redundant, except a few who have been absorbed by KTN Home in its various departments.
The closure of KTN News is aimed at making Standard Group more leaner and efficient.
Farmers TV and KTN Burudani are also expected to be shut down.
KTN News was launched in July 2015.
Mwangi Maina, a former KTN journalist, shared an emotional message and expressed pain at the closure of the station.
“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.
Standard Group management recently announced it was sacking 300 employees to cut costs and save the company from imminent collapse.
“We remain confident that the reorganization of the business through restructuring will place us in good stead by adopting a leaner, more efficient structure for better performance and growth,” Standard Group said in a statement.
In June, Look Up TV announced it was shutting down its newsroom after 6 years of operation.
The station said this would affect its Swahili and English news broadcasts.
This will see over 100 employees lose their jobs, including correspondents, reporters, anchors and sales team.
The station owners blame high taxation and changing media dynamics for the decision.
