KAMPALA — Next Media Services has completed the acquisition of Capital Radio 2015 Limited, bringing the country’s iconic radio brands—Capital FM, Beat FM and KIIS 100.9 FM—under its expanding multimedia portfolio in one of the most significant transactions in Uganda’s broadcasting industry.
According to reports citing shareholding documents, Next Media Services acquired 1,417 of the company’s 2,024 issued shares, representing a 70.01 percent stake, while Next Media Group Chief Executive Officer Kin Kariisa personally holds the remaining 607 shares, or 29.99 percent, giving the group effective full ownership of Capital Radio 2015 Limited.
The acquisition comes less than a month after Next Media and Capital Radio Group publicly announced what was described as a “strategic collaboration” focused on content sharing, cross-platform engagement and enhanced value for advertisers. At the time, both companies emphasized that the arrangement would preserve the brands’ editorial independence while leveraging their combined strengths.
Before the reported transaction, Capital Radio 2015 Limited was principally owned by veteran media entrepreneurs Patrick Quarcoo and William Pike, alongside Hannington Karuhanga and other minority shareholders, according to Uganda Registration Services Bureau filings.
The deal significantly strengthens Next Media’s presence in Uganda’s radio market by adding three established FM stations to a portfolio that already includes NBS TV, Sanyuka TV, Salaam TV, Next Radio, AfroMobile and several digital platforms.
Industry analysts say the acquisition positions Next Media to offer advertisers integrated multimedia campaigns spanning television, radio, digital platforms and events, providing broader audience reach through a single media network.
Capital FM has long been regarded as one of Uganda’s leading English-language stations targeting urban professionals and corporate audiences, while Beat FM and KIIS 100.9 FM command strong youth and entertainment audiences. Their addition broadens Next Media’s reach across multiple demographic segments.
The transaction also reflects a broader trend of consolidation within Uganda’s media industry as broadcasters seek greater scale to compete in an increasingly digital advertising landscape. Analysts argue that combining television, radio and online platforms enables media companies to diversify revenue streams while providing advertisers with bundled marketing solutions.
The reported acquisition has generated mixed reactions on social media, with some commentators describing it as a transformative moment for Uganda’s media sector that could drive innovation and stronger commercial offerings. Others have raised concerns about increasing concentration of media ownership and the potential impact on editorial diversity and programming, although there has been no indication from Next Media that the existing station brands or programming formats will undergo immediate changes.
Neither Next Media nor Capital Radio Group had publicly issued a detailed statement specifically confirming the reported share acquisition by the time of publication, beyond their June 23 announcement of a strategic partnership.