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Algeria / the private channel KBC disappears from screens

Shareholders of the Algerian media group El Khabar have decided to close KBC, one of their TV channels.

The closure of KBC was made official in a statement on September 20th. Shareholders of the London-based channel called for World Vision, which produced KBC’s Algerian content, to be wound-up.

Contacted by the Algerian media, El Khabar group chairman Ali Djerri said the channel’s situation has become “untenable” since the decline in advertising revenues. “When we launched the channel, there was still some advertising. This is no longer the case,” he said, reminding journalists that the El Khabar group has invested 3 billion dinars (€22 million) trying to keep KBC afloat.

Launched on December 25th 2013, KBC employed 120 people when it closed. According to El Watan, several dozen other employees had already left the channel without receiving their pay.

The liquidation procedure will determine how KBC’s employees and creditors will be compensated.

In June 2016, an Algerian court invalidated Cevital’s attempt to takeover the El Khabar group. Owned by businessman Issad Rebrab, Cevital had bought 80% of El Khabar’s capital for an estimated €40 million – before the Administrative Court found the takeover was contrary to the Code of Information.

Sources: Algérie Focus, El Watan, Alg24

 

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