New CVM owner promises 'immediate, unprecedented enhancements'

VertiCast Media Group Limited has announced it's the new owner of CVM Television Limited (CVM-TV), promising immediate, unprecedented enhancements to the station's programming.

The station was acquired from Michael Lee Chin's AIC Barbados Limited, which bought CVM in 2006.

A statement from Verticast said the transaction has received the approval of the Broadcasting Commission of Jamaica.

Oliver McIntosh, VertiCast President & CEO, said “VertiCast's acquisition of CVM-TV is another step in our strategic vision to create a truly regional media company with unprecedented regional and intra-island reach."

"CVM-TV creates significant operational and strategic value for VertiCast, allowing centralised distribution of multiple channels over-the-air, on cable television and through its recently launched app," he added.

The company also stated that CVM-TV adds reach and diversification to its existing broadcast network that includes the regional sports channels CSport and CSport2. 

"The acquisition creates significant value and strengthens VertiCast's revenue base by providing national reach for its content and the opportunity to tap into the national advertising market across Jamaica," It said.

McIntosh said the changes to the station's programming will be announced in the coming days.

VertiCast has broadcasting rights for FIFA World Cup Qatar 2022, England's Premier League, the NFL, all national team football from Europe and EURO 2024/2028 across the Caribbean.

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