Sep 2012 Financial News

OCM assumes control of 3 radio stations

Sep 20, 2012

One Caribbean Media Ltd (OCM) has assumed management control of three radio stations formerly owned and operated by the Citadel Group.

The stations are i95 FM, Red 96.7 FM and Hitz 107.1 FM.

OCM assumed control effective September 16.

In a statement yesterday OCM group chief executive officer Dawn Thomas said the acquisition of the stations is considered a good "strategic fit" for the Group and augurs well for the future.

In July the Telecommunications Authority of Trinidad and Tobago (TATT) advised OCM that the TATT board of directors had approved the transfer of concessions and associated licences of four radio stations — i95.5 FM, Red 96.7 FM, Hitz 107.1 FM and Sidewalk Radio 92.3 FM, to an OCM subsidiary.

The transfer of concessions and licence of Sidewalk Radio has also been completed.

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

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


Source:
Trinidad Express
Thursday September 20, 2012

http://www.trinidadexpress.com/business/OCM_assumes_control_of_3_radio_stations-170446376.html