RJRGLEANER moves to accelerate corporate integration

The RJRGLEANER Communications Group is streamlining several of its subsidiaries in a move to improve corporate efficiencies.

In a statement, the group noted that the Supreme Court on February 19 sanctioned a scheme of arrangement, involving several of the media operation’s subsidiaries, which will take effect when the court order is filed with the Registrar of Companies.

Under the approved scheme, Multimedia Jamaica Limited, Independent Radio Company Limited, Gleaner Online Limited, Reggae Entertainment Television Limited and Jamaica News Network Limited, will be amalgamated into Radio Jamaica Limited (RJL), which will assume their assets, liabilities and operations.

This restructuring forms part of a broader initiative to streamline the group’s corporate structure, eliminate duplication, and improve operational alignment across platforms.

“The objective is to build a leaner and more efficient organisation better positioned to compete and grow in a rapidly evolving media environment,” RJRGLEANER said in a release.

The court-approved scheme was subject to regulatory approval and, on February 27, the group’s primary regulator, the Broadcasting Commission of Jamaica (BCJ), advised that, at its most recent meeting, the applicable component of the scheme of arrangements was given favourable consideration by the commission, which will recommend the amendment of the licence of Independent Radio Company, as requested, to the minister of information.

TEMPORARY SUSPENSION

In parallel with the corporate restructuring, RJL has further formally engaged the BCJ and the Spectrum Management Authority, requesting temporary suspension of broadcast licences and assigned spectrum related to Power 106FM and HITZ 92FM.

“These steps are intended to allow the Group time and flexibility to address significant transmission and service challenges, including rehabilitation of radio infrastructure following the impact of Hurricane Melissa,” RJRGLEANER said.

During this period, RJL said it would focus on optimising the transmission reach and service quality of its two primary stations, Radio Jamaica 94 FM and FAME 95 FM, while assessing the long-term future and structure of HITZ 92 FM and POWER 1O6 FM, including the possibility of divesting either or both of them.

The company said it would remain in active consultation with its regulators and would provide updates as appropriate.

Commenting on the restructuring, Joseph M. Matalon, executive chairman of the group, said: “RJL intends to optimise the synergies to be gained from streamlining and more closely integrating the scheme companies’ activities into the group’s operational processes, and we firmly believe that the proposed restructuring will result in a more efficient RJRGLEANER Communications Group and inure to the benefit of Jamaica’s media landscape.”

With respect to the streamlining of radio services, Matalon said that “bold and decisive steps are required to guarantee the highest quality of service to stakeholders, and if the assessment of the business tells us that it may be better to divest ourselves of certain aspects of the business, we will do so”.