By Spy Uganda
Next Media Services has completed the acquisition of Capital Radio 2015 Limited, in a landmark deal that significantly strengthens its position in Uganda’s increasingly competitive media industry.
The transaction, which had initially been presented publicly as a strategic partnership between the two media houses, has now emerged as a full ownership takeover, marking one of the biggest corporate developments in Uganda’s broadcasting sector in recent years.
According to corporate records, Next Media Services acquired 1,417 shares, representing 70.01 per cent of Capital Radio, while Next Media Group CEO Kin Kariisa personally acquired the remaining 607 shares, equivalent to 29.99 per cent. The financial value of the transaction was not disclosed.
The acquisition effectively gives Kariisa full control of Capital Radio, both through his personal shareholding and Next Media’s majority stake.
The two companies had announced a “strategic collaboration” in June, saying they would work together on content creation, audience engagement and advertising opportunities while maintaining their separate identities.
However, sources familiar with the negotiations say the announcement was only the first phase of a broader acquisition plan that has now been completed.
According to insiders, the phased approach allowed both companies to conclude regulatory and corporate processes while ensuring operational continuity and avoiding unnecessary disruption for employees, advertisers and audiences.
With the transaction now complete, Next Media assumes control of Capital Radio’s long-term strategic direction, commercial operations and corporate governance.
The acquisition is expected to significantly expand Next Media’s influence in Uganda’s broadcasting industry.
Already one of the country’s largest multimedia companies, Next Media operates NBS Television, Sanyuka TV, NBS Sport, Nile Post, Next Radio, AfroMobile and several digital content platforms.
Adding Capital Radio to its portfolio strengthens its presence in the radio market, where the station has built a strong reputation among urban professionals, corporate audiences and premium advertisers over the years.
Beyond the flagship Capital Radio brand, the deal also brings Beat FM and KIIS 100.9 FM into Next Media’s expanding media portfolio, giving the company access to diverse listener segments across English-speaking, youth and Luganda-speaking audiences.
Industry analysts say the acquisition comes at a time when media companies are increasingly pursuing consolidation to remain competitive amid changing audience habits and growing digital competition.
Traditional broadcasters continue to face pressure from social media and streaming platforms such as TikTok, YouTube, Facebook and Instagram, which have transformed how audiences consume news and entertainment.
At the same time, advertisers are shifting towards integrated campaigns that combine television, radio, digital platforms and social media instead of relying on a single medium.
The acquisition positions Next Media to offer broader multimedia advertising solutions while strengthening its ability to compete for corporate and commercial business.
Despite the ownership change, sources indicate that Capital Radio will retain its brand identity and programming style, at least in the short term, as Next Media works to integrate the business into its wider operations.
Media observers say maintaining the station’s established identity will be critical to preserving the audience trust and loyalty that have defined Capital Radio for decades.
The deal also marks the end of an era for one of Uganda’s oldest private radio brands, transferring ownership to a new generation of media entrepreneurs led by Kin Kariisa.
For Uganda’s media industry, the acquisition signals a growing trend towards consolidation as companies seek greater scale, wider audience reach and stronger digital capabilities to navigate an increasingly competitive broadcasting landscape.
With the takeover now complete, industry attention is likely to shift to how Next Media integrates Capital Radio into its expanding multimedia ecosystem while preserving the qualities that have made the station one of Uganda’s most respected radio brands.
