Standard Media Group Records Ksh1 Billion Loss, Reshuffles Journalists
On Friday, April 28, The Standard Media Group made several changes in the editorial department, affecting nearly ten journalists, as the company sought to recover from a Ksh1 billion loss incurred in the fiscal year ending December 31, 2022.
Ochieng Rapuro, the editor-in-chief, explained that the changes were made to realign the newsroom and reposition the media organization to achieve medium- to long-term goals.
TV Output’s program editor, Lillian Odera, was transferred to the SuperDesk as Continuity Editor, while TV Output’s program editor, Hassan Jumaa, was transferred to the Sports Desk as Sports Editor.
In addition, according to a notice viewed by GossipA2Z, Samuel Njogu of the QAE Economy Desk was appointed Deputy Editor of the same desk.
Former Deputy Editor of the Gender Desk, Christine Koech was transferred to the Science and Health Desk in the same capacity.
In addition, Sarah Okuoro, Deputy Editor of Digital Output, was promoted to Acting Editor. While Betty Njeru, Senior Reporter of Radar Desk, was promoted to Deputy Editor and Acting Editor.
Ochieng transferred William Bulemi from the QEA National Desk to the Digital Output position. In addition, he appointed Gathenya Njaramba from QAE Politics to the Print Output position.
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Lastly, the Editor-in-Chief reassigned Beldeen Waliaula, the Reporter from the City Desk. To the Science and Health Desk in the same capacity. And Mercy Kahenda, the Health Reporter from the Eldoret Bureau, to Headquarters in the same capacity.
The Standard Media Group’s total revenue decreased by 1 billion (13 percent) in 2022. From Ksh3.1 billion in 2021 to Ksh2.7 billion.
As inflation reached an all-time high of 9.06 percent, the high cost of living caused the drop. Other factors included heightened global insecurity, geopolitical tensions, volatile financial markets, inflationary pressures, and the pandemic’s lingering effects.
A portion of the Group’s report stated, “The Group will continue to enhance its operational efficiency while monitoring its cost rationalization initiatives. To counter the effects of rising business costs.”
“After the conclusion of the 2022 General Election. The Group is optimistic that the current economic climate will improve and continue to offer business opportunities for the Group to exploit. In addition, the Group will continue to enhance its operational efficiency. While monitoring its cost-reduction initiatives to combat the effects of rising business costs, the statement added.
Standard Media Group Records Ksh1 Billion Loss, Reshuffles Journalists
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