In these financial woes, nothing seems to be spared. From your morning ratios being cut to bare essentials to your favourite sports catch ups. Gateway Broadcasting Services, the holding company for GTV has closed shop and hence no more cable TV for all you sports enthusiasts.
This comes too close to their committing to cover more local content and ensuring coverage of the regional tournaments including CECAFA.
This is a loss to all you pub owners and home owners too who have paid subscription to the company starting 2009 and the periods preceding.
My quick assessment tells me that the company may have secured most of its finance through debt and thus with the financial crunch hitting all, they couldn’t take it anymore. Let’s see what unfolds as we live in historic times!
The statement from the company's here.