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SBC-TV Sale Coming Up

Written by Pio Sioa
Thursday, 15 May 2008
BIG DAY COMING UP : Current SBC - TV Chief Executive Officer, Galumalemana Ms. Faiesea Matafeo. The sale of the Samoa Broadcasting Corporation, SBC, should be ready to proceed next week, provided the takeover company, Samoa Quality Broadcasting, SQB, fronts up on the day with SAT$2 million. SBC Chief Executive Officer, Galumalemana Ms. Faiesea Matafeo, confirmed the planned sale going through on the 21st May if everything goes according to plan. Galumalemana is one of 8 current staff members of the SBC who joined up with several private investors in a bid for ownership of the Government run media corporation. The road to ownership of the SBC started with a bidding process that eventually came down to the SQB bid, after several other interested bidders decided to pull out. Negotiations for the SBQ takeover started around November and December last year, that was dogged by media controversy, that appeared to centre on the working relationship between CEO Galumalemana and others in the staff of SBC. The negotiations meanwhile continued until the two parties finally agreed for SQB to acquire the popular SBC-TV and FM89.1 radio. Government will continue to hold on to the national AM radio. “The purchase price involves in station equipment, transmitters and goodwill,” Galumalemana told Newsline yesterday. “The land, buildings and the satellite dish inside the SBC compound will be leased to SQB.” The SBC currently employs a staff of 35, who are all entitled to redundancy pay packages. It is unsure however if they will stay with the new company, but according to Galumalemana there will be a restructuring of the staff in the new company.” “We’re going to be ‘right-sizing’,” she quipped. Galumalemana is adamant that the new service by the SQB will continue to remain firmly focused on local programming that will maintain the emphasis on the language and culture of Samoa. “This is an area that we will make sure is maintained when SQB takes over from the SBC.” Galumalemana also revealed that the new company will be directed by a Board of Directors, that she and everyone else on the staff will have to answer to. The national AM radio is expected to come under the Ministry of Communications. Comments (0) Subscribe to this comment's feed Write comment Name Email Title Comment

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