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Radio Jamaica Limited and its subsidiary Independent Radio Jamaica Limited have concluded an agreement for the sale of 100 per cent shareholding in Music 99 FM Limited. Music 99 FM has been sold to Caribbean Global Networks Inc., a company incorporated in St Lucia. The sale price was not disclosed. Radio Jamaica said that the transaction is the fulfilment of a conditionality of the Broadcasting Commission which required the group to relinquish one of its radio licenses or a set of broadcast frequencies upon the amalgamation of Radio Jamaica Limited and the Gleaner Company Limited. Regarding the sale of Music 99 FM, Radio Jamaica said the completion of the deal is expected on or before April 15, 2021, once all closing conditions are satisfied and regulatory approvals received.

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