Rédaction Africa Links 24 with Ellen Alberts
Published on 2024-03-23 06:00:00
Future Media chief executive Gary Stroebel believes that the recent merger between TribeFire Studios and his company has created a more robust and sustainable media platform. This move comes in response to the growing dominance of Google and Meta in the advertising and information dissemination space, which has impacted media companies worldwide.
The successful completion of the merger between Future Media Namibia and TribeFire Studios was announced on Monday. This merger has led to the formation of Namibia Future Media Holdings, with Future Media being the parent company of Radio Wave, Fresh FM, Nova 1035, and Omulunga Radio, while TribeFire Studios previously owned One Africa Television and 99FM, which are now subsidiaries of the new entity.
Stroebel emphasizes the competitiveness and potential unsustainability of the Namibian media market, which makes mergers like this essential for long-term viability. By combining resources and expertise, the merged entity is better positioned to deliver value to clients and audiences, adapt to the evolving digital landscape, and provide a viable alternative to international advertising platforms while supporting the local economy.
The merger was initiated as a strategic move to strengthen the companies’ positions in the dynamic media industry. It combines the strengths of both management teams to navigate the evolving digital media landscape effectively. Former chief executive of TribeFire Studios, Stefan Hugo, now joins Future Media Namibia as an executive director, sharing the commitment to providing trustworthy local media content and services.
The completion of the merger was subject to regulatory approval, with the Namibian Competition Commission and the Communications Regulatory Authority of Namibia (Cran) granting their approval in July 2023. Cran’s chief executive, Emilia Nghikembua, highlighted the potential benefits of the merger in unlocking capital for innovation and attracting more advertising revenue, ultimately benefiting both consumers and broadcasters.
While concerns were raised about the merger potentially limiting diversity and control over information dissemination, Stroebel reassured that the merged entity has a long history of serving diverse audiences and expanding voices across the racial spectrum. With investments in local news and personalities from various parts of the country, both companies have contributed to a more inclusive media landscape.
Overall, the merger between Future Media and TribeFire Studios reflects a strategic move to adapt to the changing media landscape, strengthen market positions, and deliver enhanced value to clients and audiences. By leveraging their combined resources and expertise, the new entity aims to continue providing quality and diverse content while supporting the local media ecosystem.
Read the original article on The Namibian
