Issued by: Independent Broadcasting Authority
INDEPENDENT BROADCASTING AUTHORITY PRESS STATEMENT Friday 20 September 1996 EAST COAST RADIO GOES TO NEW RADIO CONSORTIUM
The Independent Broadcasting Authority today announced its decision to grant a sound broadcasting licence to New Radio Consortium (Pty) Limited for the acquisition of East Coast Radio.
Hearings for the East Coast licence were conducted in Durban during the end of August. Bidders for the station included Dynamo Diversified (Pty) Limited; Maribo and New Radio Consortium.
The Authority's announcement is one of the major milestones in the establishment of a competitive broadcasting environment in South Africa.
Structure of the New Radio Consortium.
The new owner of East Coast Radio is a consortium comprising
Kagiso Trust Investment (Pty) Limited; Durban Video Vision; Publico; Nedbank; Station Management and JP Clegg.
The Consortium bid R45 million for East Coast Radio.
Coverage Area
The coverage area of East Coast Radio involves the whole of the Kwazulu-Natal Province.
Listenership
According to the latest Amps Report the listenership figure of East Coast Radio is 621 000 (past seven day figure)
Further pertinent information on the New Radio Consortium (Pty) Ltd and its application is available from the Library and Information Centre of the Authority.
ISSUED BY: INDEPENDENT BROADCASTING AUTHORITY COMMUNICATIONS DEPARTMENT TEL: 447-6180 FAX: 441-1463