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MEDIA RELEASE: MERGER BETWEEN FUTURE MEDIA AND TRIBEFIRE STUDIOS NOW IN EFFECT

Windhoek, Namibia – March 11, 2024 – Future Media and TribeFire Studios are delighted to announce that the merger between the two media companies has been successfully completed, with OneAfrica and 99FM becoming subsidiaries of Namibia Future Media Holdings. This milestone marks a significant moment in the Namibian media landscape as six of the country’s most influential media brands will be managed under one roof.

Gary Stroebel, CEO of Future Media, confirmed the rationale behind the transaction: “This merger represents a strategic move to strengthen our position in the dynamic media industry. By combining our resources and expertise, we are better equipped to deliver enhanced value to our clients and audiences. The blending of two excellent management teams also assists us to better navigate the evolving digital media landscape.”

Stefan Hugo, who joins Future Media as an Executive Director adds, “We are excited about the opportunities that this merger presents for our teams and stakeholders. Together, we will leverage our collective strengths to innovate and create impactful content that resonates with our audiences across various platforms.”

The merger brings together OneAfrica and 99FM with Future Media’s existing portfolio, which includes Radio Wave, Fresh FM, NOVA 103.5, and Omulunga Radio. This consolidation aims to streamline operations, expand our reach, and provide a wider range of products and services to our clients and audiences.

“We are committed to maintaining our dedication to trustable local media content and services,” said Stroebel. “The combined online and on-air audiences that our clients will be able to access as a one-stop service, provides a viable alternative to advertising on international platforms while supporting the local economy and keeping advertising spend in the country. “

The completion of the merger follows the approval of the Communications Regulatory Authority of Namibia (CRAN) in July 2023. CRAN conducted a thorough assessment and solicited public input before granting approval, underscoring its commitment to ensuring the socio-economic benefits of all Namibians.

The merger also received approval from the Namibian Competition Commission. The NACC, responsible for regulating competition issues across all sectors of the Namibian economy, granted its stamp of approval on 19 December 2023. This endorsement underscores the merger’s adherence to fair competition practices and its positive impact on the Namibian media landscape.

“We appreciate the thorough review process conducted by both CRAN & the Namibian Competition Commission. We are grateful for their support in the fight against the outflow of media spending to international platforms that has led to the collapse of many newsrooms and studios across the globe” added Hugo. “We are committed to Namibia and the constructive role we have to play in the future narrative of our country. “

For further information and inquiries, please contact:

Gary Stroebel at gary@futuremedia.com.na or Stefan Hugo at stefan@tribefirestudios.com

Stefan Hugo, Executive Director – Future Media (Left)
Gary Stroebel, Chief Executive Officer – Future Media (Right)

Meet-and-Greet between Future Media & TribeFire Studios Staff.

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