Sunday, June 26, 2016

Why We Re-Opened Ben Bruce's Silverbird and Rhythm FM - AMCON

The Assets Management Corporation of Nigeria, AMCON, on Thursday effected a court order to take possession of Silverbird Galleria Limited, Silverbird Promotions Limited, and Silverbird Showtime Limited which are part of the media group owned by businessman and politician, Ben Murray-Bruce, and his family.

Kunle Adegoke, an attorney working with Muiz Banire, the debt recovery manager overseeing the takeover told Premium Times that Murray-Bruce and his brothers would not be in charge of running the businesses.

Mr. Adegoke on Friday evening that the reopening of the businesses should not come as a surprise to Nigerians. He said they were only repossessed by the authorities but not liquidated.
The lawyer said AMCON would continue to superintend the affairs of the businesses in order to make them more effective and profitable, but added that Mr. Murray-Bruce and his brothers would be carried along in the day-to-day running of the businesses.

“So we have directed that the television should go back on air and the radio.

“The essence is not to kill the business but to make it profitable. So that is the situation right now. What we have decided as the receivers is to ensure that the existing management would have to work with us to ensure that things are perfectly run,” Mr. Adegoke said.

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