Latest update April 24th, 2024 12:59 AM
Jun 05, 2009 News
VCT Channel 28, founded by Anthony Vieira, was this week sold to the Ramroop Group of Companies, owner of Guyana Times. The assets sold to the Ramroop Group include the business office and studio at Quamina Street and the transmission site at Versailles.
Vieira, who was in television business ever since the 1980s and considered one of the people responsible for opening up the way for more television stations to operate locally, has decided to call it a day.
Commenting on the sales, Vieira said, “I’ve served this country well, especially through my contributions towards television broadcasting.”
Vieira now 64 wants to pursue less stressful enterprises, he said.
With respect to the deal with the Ramroop Group of Companies that was inked this week, Vieira said that it was the best offer he received and had no option but to accept it.
“As businessmen we enter into specific business ventures with objectives whilst at the same time, seeking to conclude the best alternative or deal and I believe, having considered all my years of hard work and investments in the television industry, the offer I got for VCT from the Ramroop Group was acceptable.”
Vieira cited the sad global financial climate and the poor local advertising market. “There are just too many channels competing for what is essentially a small advertising pie.”
Officials from the Ramroop Group, commenting on the sales, said that they would bring new and exciting programmes to Guyanese as they seek to enhance the quality of local television viewing.
The officials noted, that in the past they have made promises to enhance the quality of output from their many business ventures and have delivered on those promises. The same can be expected now that television broadcasting is part of the group’s operations.
This deal, one senior official said, was thoroughly considered on its viability and soundness. It was in keeping with the mandate and corporate objectives of the Group as it seeks to expand its investment in Guyana whilst diversifying its business portfolio.
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