Only socialism could put up with it for so long; that is, the way Television Continental (TVC) was being run. As a capitalist media establishment allegedly owned by All Progressives Congress (APC) big wig and two-time governor of Lagos state, Bola Tinubu, it is astonishing that the broadcast company hadn’t gone bankrupt few months after its establishment, according to media and economic pundits.
As you read, TVC, like most media outfits, is not finding things easy at the moment. Findings revealed that some of the company’s top shots were recently eased out. The casualties include Richard Dayo-Johnson, a Director with Radio Continental, Kunle Adegboyega, Director of Finance and Motunrayo Afolabi-Brown, Director of Programmes (Terrestial Section).
The last person is said to be the daughter of late activist, Alao Aka-Bashorun and was reportedly doing very well with her programme, Your View, before she was booted out. Equally affected is one Mayokun, the MD of Consat, who had earlier been poached from DSTV. An insider revealed that this is to downsize and reduce the company’s wage bill, which is said to be over N200 million per month. “They were paying those guys expatriate salaries of around N1.8m to N2 million. They also lived in Magodo, with brand new Prado SUV as official cars. But now, the company doesn’t ‘see’ money like before. So, it’s a reflection of the economy. And even Tinubu is also cutting cost,” according YES magazine’s sources.
