Entertainment of Monday, 12 January 2015
Excellence In Broadcasting (EIB) Networks, the media company owned by former Finance Minister, Kwabena Duffuor, and Nathaniel Kwabena Anokye Adisi (Bola Ray), have acquired Tesano-based radio station, LIVE 91.9 FM, enewsgh.com can authoritatively say.
Less than two years after it went live, the station has changed hands, we have this on good authority.
enewsgh.com can confirm that the deal was sealed last week. It is a hundred percent takeover.
Workers at the Tesano-based station have been officially informed of the new arrangement.
It brings to two (Choice FM the other), the number of acquisitions made in recent times by EIB, which also owns Starr FM in Accra and Ultimate FM in Kumasi.
A three-month transition period will lead to an eventual change in direction and purpose, station sources have told us.
A decent buy that properly positions EIB as a strong force in mainstream broadcasting business in Ghana, it’s been in the works for some time now.
Workers at the station have long predicted (based on rumours from inside and outside sources) the takeover.
LIVE FM (formerly trading as VIBE FM) was jointly owned by Mike Cooke, Founder of Vibe FM, and Kelvin Kwesi Kobiri, Head Pastor of the Charismatic Worship Center, who also doubles as CEO of the Dream Group of Companies, which owns Dream Finance, Dream Educational Institute and Dream Properties among a number of other interests.
The station recruited some of the best brains available locally, when it started operations in 2013.
EIB’s other properties include Empire FM (Takoradi), Cool FM (Cape Coast), Hi FM (Koforidua) and Agoo FM (Nkawkaw).