RJRGLEANER merges subsidiaries, eyes streamlined operations
Key Points(5)
- The RJRGLEANER Communications Group is consolidating several of its subsidiaries to improve efficiency and operational alignment.
- The Supreme Court approved a scheme of arrangement on February 19, which will take effect once the court order is filed with the Registrar of Companies.
- Under the plan, Multimedia Jamaica Limited, Independent Radio Company Limited, Gleaner Online Limited, Reggae Entertainment Television Limited, and Jamaica News Network Limited will merge into Radio Jamaica Limited (RJL), which will take over their assets, liabilities, and operations.
- “The objective is to build a leaner and more efficient organisation better positioned to compete and grow in a rapidly evolving media environment,” the group said in a statement.
- The restructuring received favourable consideration from the Broadcasting Commission of Jamaica (BCJ) on February 27, which will recommend an amendment to the Independent Radio Company licence to the Minister of Information.
The RJRGLEANER Communications Group is consolidating several of its subsidiaries to improve efficiency and operational alignment.
The Supreme Court approved a scheme of arrangement on February 19, which will take effect once the court order is filed with the Registrar of Companies. Under the plan, Multimedia Jamaica Limited, Independent Radio Company Limited, Gleaner Online Limited, Reggae Entertainment Television Limited, and Jamaica News Network Limited will merge into Radio Jamaica Limited (RJL), which will take over their assets, liabilities, and operations.
“The objective is to build a leaner and more efficient organisation better positioned to compete and grow in a rapidly evolving media environment,” the group said in a statement.
The restructuring received favourable consideration from the Broadcasting Commission of Jamaica (BCJ) on February 27, which will recommend an amendment to the Independent Radio Company licence to the Minister of Information.
In parallel with the merger, RJL has requested a temporary suspension of broadcast licences and spectrum for Power 106FM and HITZ 92FM to address transmission and service challenges, including infrastructure repairs after Hurricane Melissa. During this period, the company will focus on improving coverage and quality for Radio Jamaica 94 FM and FAME 95 FM, while reviewing the long-term plans for HITZ 92 FM and Power 106FM, including potential divestment.
Executive Chairman Joseph M. Matalon said the restructuring is intended to “optimise the synergies to be gained from streamlining and more closely integrating the scheme companies’ activities into the group’s operational processes” and strengthen Jamaica’s media landscape.
On radio services, Matalon added, “Bold and decisive steps are required to guarantee the highest quality of service to stakeholders, and if the assessment of the business tells us that it may be better to divest ourselves of certain aspects of the business, we will do so.”
