Naguru hill based Wavah Broadcasting services (WBS) after 19 years on air as a public broadcaster, has ceased its operations today as a result of failure to recover shs7billion debt.
The once most popular television station had been under receivership by tax collectors Uganda Revenue Authority.
Karamagi who was in charge of the affairs revealed that WBS TV assets had been sold off to a respectable region outfit.
“I therefore wish to confirm the numerous media rumours that you must have read about that assets of the company have been sold to a respectable regional outfit that promises to give you a much better product and partnership than WBS could possibly have ever given you,’’ Karamagi said.
Initially WBS TV was owned by Ugandan business man Gordon Wavamuno who introduced it on air in 1997. Though Karamagi did not name the investor, there were earlier reports that a deal was reached with a London based Zimbabwean businessman Strive Masiyiwa.
Masiyiwa is an entrepreneur, and Philanthropist. He is the founder and executive chairman of diversified international telecommunications group.
If all goes right with Masiyiwa, the station may be renamed Kwese Tv also a Zimbabwean Sports TV which telecasts free live sports activities both on TV sets and mobile gadgets with branches in other parts of Africa.
All staff members will have to re-apply for their jobs and acquiring WBS means Ugandans should get ready to watch free Premier League matches in their sitting room at a low cost.