Rhythm FM is R52-million of dead air
It has been more than five years since Eastern Cape’s Rhythm FM was awarded a licence to operate by the Independent Communications Authority of South Africa (Icasa), but it is yet to make a single broadcast, despite a R52-million facility made possible by taxpayers’ money.
Shareholders say they have been left in the dark, there are allegations of mismanagement and now a R6-million civil suit has been launched against Rhythm FM by Slip Knot Investments, the landlord for the East London-based operations.
MSG Afrika, chaired by media entrepreneur Given Mkhari, has a 19.8% shareholding in Rhythm FM.