Kampala — Media mogul Kin Kariisa’s Next Media Services has finalized the 100% acquisition of Capital Radio 2015 Limited, bringing one of Uganda’s most iconic radio networks under its direct control.
The transaction, confirmed on Wednesday, integrates Capital FM, Beat FM, and KIIS 100.9 FM into the Next Media ecosystem. The full takeover comes less than a month after the move was initially framed as a “strategic collaboration” on June 23, 2026.
According to company registration records, Next Media acquired 1,417 shares (70.01%), while Kariisa personally acquired the remaining 607 shares (29.99%)—securing complete control of all 2,024 issued shares in Capital Radio 2015 Limited.
From Partnership to Full Takeover
The initial June announcement pitched the deal as a non-equity partnership focused on joint advertising, cross-platform engagement, and content sharing while promising to preserve editorial independence.
Capital Radio co-owner Patrick Quarcoo led a high-level delegation to the Next Media Park in Naguru to mark the deal.
However, industry sources reveal the arrangement quickly evolved into a outright buyout, valued at approximately Shs12 billion. The figure covers Capital Radio’s extensive transmitter infrastructure, regional frequency licenses, and brand goodwill. Capital FM has long stood as one of East Africa’s most profitable commercial radio assets, having previously absorbed Hot 100 FM less than three years ago.
Tightening the Grip on Ugandan Media
The acquisition marks a major expansion for Next Media, which already dominates television broadcasting with NBS TV, Sanyuka TV, and Afro Mobile, along with existing digital and print assets. By plugging Capital FM and its sister stations directly into its ecosystem, Kariisa now commands an unprecedented share of Uganda’s daily broadcast reach.
The deal has sent ripples through the media industry, raising concerns among market analysts regarding media consolidation, reduced advertising competition, and the shrinking independence of legacy newsrooms in Uganda.
When contacted for an official statement regarding the shift from partnership to full ownership, Next Media management declined to elaborate beyond earlier public statements.
Further details regarding management restructuring, staffing changes, and regulatory compliance checks by the Uganda Communications Commission (UCC) are expected in the coming weeks.
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