CRAN and Competition Commission clear Tribe Fire Studios and Future Media merger
By Freeman Ya Ngulu.
Future Media and TribeFire Studios announced the successful completion of their merger in which OneAfrica and 99FM will operate as subsidiaries of Future Media Holdings. The merger bring six media channels together in one stable.
“The merger is a strategic decision to reinforce our position in the dynamic media market,” according to Future Media Chief Executive, Gary Stroebel.
Explaining the rationale behind the deal, he said “This merger represents a strategic move to strengthen our position in the dynamic media industry. By combining our resources and expertise, we are better equipped to deliver enhanced value to our clients and audiences. The blending of two excellent management teams also assists us to better navigate the evolving digital media landscape.”
OneAfrica and 99FM former chief and now Executive Director of Future Media, Stefan Hugo said “We will work together to innovate and produce powerful content that connects with our consumers on a variety of channels by utilising our combined skills.”
Through the merger, Future Media’s current portfolio—which includes Radio Wave, Fresh FM, NOVA 103.5, and Omulunga Radio—combines OneAfrica and 99FM. “With this consolidation, we hope to improve efficiency, broaden our clientele, and offer a greater selection of goods and services,” Stroebel said.
“We appreciate the thorough review process conducted by both CRAN and the Namibian Competition Commission. We are grateful for their support in the fight against the outflow of media spend to international platforms that has led to the collapse of many newsrooms and studios across the globe” added Hugo.
Sealing the merger deal, Stefan Hugo (left), new Executive Director of Future Media, and Gary Stroebel, the group’s Chief Executive. (Photograph courtesy of Future Media staff)
