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Financial News

Jul 2012 Financial News

OCM gets approval for 4 stations

Jul 27, 2012

THE Telecommunications Authority of Trinidad and Tobago (TATT) has advised One Caribbean Media Ltd (OCM) that the TATT board of directors has approved the transfer of concessions and associated licences of four radio stations, including i95.5 FM, to an OCM subsidiary.

OCM said in a statement yesterday the TATT board also approved the transfer for Red 96.7FM, Hitz 107.1FM and Sidewalk Radio 92.3FM.

"OCM's management will be working with TATT and vendors to ensure the smooth and successful completion of transactions by September 1, 2012," OCM chief executive Dawn Thomas said.

OCM is a publicly-owned and regionally focused media company quoted on the stock exchanges of Trinidad and Tobago and Barbados.

OCM is also the parent group of Caribbean Communications Network (CCN), which publishes the Trinidad Express newspapers and operates CCN TV6.

In March, OCM announced it had entered into an agreement to acquire the Citadel Group, owners and operators of i95.5FM, Red 96.7FM and Hitz 107.1FM.

Thomas said then the change in ownership would see key talent being retained, so listeners of the three stations could look forward to the continuation of their favourite programming.

Additionally, OCM said then it had successfully negotiated the acquisition of Sidewalk Radio Ltd, which is the owner of the radio frequency 92.3FM.

Trinidad Express
Friday July 27, 2012