3 months ago
22
After débuting on air with much fanfare nearly three years ago, radio station The Bridge 99 FM is facing an uncertain future and is now up for sale.
Two investors in The Bridge, one of the newest FM radio stations in a crowded and dwindling market, have confirmed that they are seeking buyers for the station.
However, the Broadcasting Commission of Jamaica, which regulates free-to-air radio and TV stations, said last week that it was not aware of any sale, while noting that any change of ownership must be approved by the regulator.
The Bridge, the brainchild of New York-based Jamaican Robert ‘Bobby’ Clarke who heads the Irie Jam Media Group, which operated Irie Jam Radio in the Tri-State area for more than two decades, came on air in August 2021 aiming, as its name suggested, to connect Jamaicans abroad, mainly in the United States, and those at home, through a unified platform.
The upstart station was able to attract a slate of well-known names to its airwaves, including disk jocks Richard ‘Ritchie B’ Burgess, Kurt Riley and Nikki Z, veteran recording artiste Tony Rebel, retired politicians Ronald Thwaites and Pearnel Charles Sr, and controversial talk show host Dr Kingsley ‘Ragashanti’ Stewart.
But The Bridge failed to attract a significant audience, with more persons turning away from traditional media sources like radio to social media for information and entertainment.
It wasn’t long before some big names began to leave, and sources say the station has now been closed, with former employees left contemplating their next move.
Bobby Clarke, who runs The Bridge along with his wife Syntyche, confirmed to the Financial Gleaner last week that the station was up for sale.
Meanwhile, Zachary Harding, founding partner of Delta Capital Partners Jamaica, also confirmed that he was an investor in The Bridge, and that a buyer was being sought. However, he said he was not in a position to name potential buyers at this time, based on the stage of discussions.
Harding affirmed that some well-known names had exited the radio station.
“As we are in the process of a possible sales transaction, we have reduced costs associated with staff and personalities and are using an automation model,” he said.
He said The Bridge was currently not transmitting because of damage caused by intermittent power during Hurricane Beryl, and that he expected the issues to be resolved and for the station to resume transmission later this week.
“The parent station Irie Jam radio has recently rebranded as CaribStar radio and expanded its reach through a partnership with iHeartMedia in the US. Whereas, before, Irie Jam was only available as a terrestrial station in New York, it is now available throughout the entire United States and Canada on the iHeartRadio app, Caribstarradio.com, its own proprietary app, as well as in cars and homes in the New York Tri-State area on frequency 103.5 FM HD3,” Harding said.
Asked about the future of FM radio, Harding responded: “There can be money in FM radio, as it is still a popular means of entertainment and getting information. Radio is not dead. However, advertisers now have more options in terms of marketing spend and there has definitely been a tremendous shift towards social media and away from traditional media. This trend will always impact smaller players in the market negatively. However, with the right strategy, you can integrate social media into your strategy to command more loyal listener base and differentiate the station, while providing greater points of distribution. This is exactly what we are doing at CaribStar Media”.
Commenting on the possible sale of the station, Broadcasting Commission Executive Director Cordel Green said a broadcast licence is not transferable, and any new ownership has to be approved by the BCJ.
“Under its licence, it (The Bridge) is supposed to be operating and the Broadcasting Commission has no information to suggest that it is off the air with permission,” Green said.
He added, however, that it was not unusual for radio stations to go off air for various reasons, including during extreme weather events.
Green said any discussions regarding the sale “are of no moment until the Broadcasting Commission receives an application”.
“We would need to be satisfied that any such sale would be in the public interest and that any prospective owner would be eligible to hold a broadcast licence … . We would have to be satisfied about their technical, financial and programming capabilities, and for it to be a viable operation,” Green said.
English (US) ·