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 Nation Centre, headquarters of the Nation Media Group | |
| Company type | Public |
|---|---|
| KN: NMG | |
| Industry | Media |
| Founded | 1959 |
| Headquarters | Nation Centre, Kimathi Street, Central Nairobi |
| Products | Newspapers, magazines, radio stations, television stations |
Number of employees | 1,400 (2004)  |
| Website | www |
Nation Media Group (NMG), formerly East African Newspapers (Nation Series) Ltd, is an East African media group listed based in Kenya and listed on the Nairobi Stock Exchange. It is owned by Aga Khan IV.
NMG was founded by Aga Khan IV in 1959 as East African Newspapers (Nation Series) Ltd, [1] under the Aga Khan Fund for Economic Development. In 1999, NMG launched NTV, a news channel in Kenya, and Easy FM (now known as Nation FM). [2]
As of 2007 the group was largest private media house in East and Central Africa with offices in Kenya, Uganda, and Tanzania. [2] [ needs update ]
The group publications include The EastAfrican , Daily Nation , Business Daily Africa , Daily Monitor , The Citizen , NMG Investor Briefing, Taifa Leo and Zuqka. The Daily Nation and the Sunday edition of the same newspaper, the Sunday Nation, celebrated their 50th anniversaries, branded by the Nation Media Group as "50 Golden Years", in 2010. [3] [ citation needed ]
As of 2016 [update] NMG owned a 76.5% stake in the Monitor Publications Limited and 93.3 KFM, a Kampala-based radio station in Uganda. It also owns two television stations in the country, NTV Uganda and Spark TV. [4] NMG also has a 60% shareholding in Mwananchi Communications Limited' in Tanzania. The group's East African subsidiaries, especially the Tanzanian business, contribute significantly to growth in the group. [4]
In March 2016, NMG commissioned a new state-of-the art printing press on Mombasa Road in Nairobi. The new facility has capacity to print 86,000 newspapers per hour. It cost KSh2 billion (about US$20 million) and will print the dailies Daily Nation, Business Daily, Taifa Leo and the weekly The EastAfrican. [5]
The shares of stock of the Group are listed at the Nairobi Stock Exchange [6] and are cross-listed at the Uganda Securities Exchange as well as the Rwanda Stock Exchange, trading at all three bourses under the symbol "NMG". [7] As of December 2014, [update] there were a total of 10,436 shareholders in the company. Of these, 4,135, owned 1 to 500 shares each, with a cumulative total of 782,157 shares, controlling 0.41 percent of the company. The seven largest shareholders controlled 62.57 percent of the total shareholding. These included:
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