Kenya’s biggest media house denies sale rumours

Kenya’s leading media house has denied media rumours that it is for sale.

The acting chief executive officer of the Nation Media Group (NMG), Stephen Gitagama, “the rumour going round in the country is unfounded, this is not true”, the country’s Daily Nation newspaper reported.

Mr Gitagama said NMG is a public-listed company owned by Kenyans through shares.

“So, if you want to buy Nation shares, just walk to your stock broker and buy [your] shares of choice. But the company is not for sale,” he said.

Last week, NMG board chairman Wilfred Kiboro also deniedthat the company would be sold.

The NMG is the largest independent media house in East and Central Africa and owns newspapers and TV stations in Kenya, Uganda and Tanzania.

In February, financial website Business Today the Ugandan Khan, NMG’s shareholder, was planning to sell his stake to President Uhuru Kenyatta.Kenya’s president has not publicly commented on the rumours.

631 thoughts on “Kenya’s biggest media house denies sale rumours

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