K24TV has dismissed social media reports that it is shutting down operations after 17 years.
In a statement on Friday, August 14, the TV station flagged a report circulating a post on X claiming that it was shutting down.
“#FakeNewsAlert! Get all our latest news across all our social pages - K24TV and our website, k24. digital,” K24 stated.
The flagged post claimed that the TV station was shutting down after 17 years, leaving hundreds of journalists unemployed.
The clarification comes weeks after Mediamax Network Limited, which is the parent company of K24TV, People Daily, and Milele FM, issued a 30-day redundancy notice to its staff.
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Mediamax Chief Executive Officer (CEO) Ken Ngaruiya, in an internal memo dated July 14, said the move is aimed at realigning the company’s operations in response to mounting economic pressures and evolving market dynamics within the media landscape.
“Mediamax Network Limited is undertaking a strategic restructuring and reorganization of its business operations to enhance overall efficiency and effectiveness in response to evolving market dynamics, including digital transformation, innovation, shifting client needs, and introduction of punitive regulations by the Government of Kenya affecting the media industry,” Ngaruiya stated.
He explained that the restructuring was prompted by challenges in the macro business environment, including rapid digital advancement, a reduction in business volumes, and a decrease in the clientele base.
The Mediamax CEO assured the Mediamax staff that the redundancy process would follow all legal and procedural requirements as stipulated in Section 40 of the Employment Act, 2007, and the individual contract of employment.
K24TV was launched on February 4, 2008, and was the first Kenyan television station to stream live on the internet.
