The Uganda Communications Commission (UCC) has opened a 14-day public consultation on an application by Next Media Services Limited and Kin Ibrahim Kariisa to acquire full ownership and control of Capital FM (2015) Limited.
In a public notice dated September 14, 2026, the communications regulator said Capital FM had applied for approval to transfer its broadcasting licences following a proposed change in control of the company. The application, if approved, would result in Next Media Services and Kariisa acquiring 100 percent ownership of Capital FM (2015) Limited. The proposed transaction brings the ownership of one of Uganda’s established radio networks before the country’s communications regulator for formal consideration.
According to UCC, Capital FM (2015) Limited currently holds nine radio broadcasting licences across Uganda. Its current shareholders are Patrick Quarcoo, who holds 37.6 percent, William Edward Cathcart with 37.6 percent, Hannington Rubarenza Karuhanga with 12.5 percent, Samuel Wanzunula Mangaali with 9.3 percent and Albert Ayorinde Ajayi with 2.7 percent.
Next Media Services Limited, meanwhile, holds six broadcasting licences and is largely owned by Kariisa. UCC records show Kariisa holds 99.9 percent of Next Media Services, while Next Media Group FZCO holds the remaining 0.1 percent.
The proposed transaction would leave the existing shareholding structure of Next Media Services unchanged. Instead, the change would occur through the acquisition of all shares in Capital FM (2015) Limited by Next Media Services and Kariisa, giving the two direct control of the company. The regulatory process follows earlier developments between the two media groups.
In June, Next Media and Capital FM announced a strategic collaboration involving content sharing, cross-platform engagement and new opportunities for advertisers. At the time, the companies said their brands and editorial identities would remain separate.
The latest UCC notice provides formal regulatory confirmation of a proposed change in ownership. Reports published in recent months have linked the two companies through a broader acquisition arrangement, with reports indicating that Next Media took a majority stake while Kariisa acquired the remaining interest personally. The financial value of the transaction has not been publicly disclosed.
Capital Radio’s radio portfolio includes Capital 91.3 FM, Beat FM and KIIS 100.9 FM, stations serving different segments of Uganda’s radio audience. The acquisition would therefore expand Next Media’s existing broadcasting footprint beyond its current television, radio and digital operations.
Next Media’s portfolio already includes NBS Television, NBS Sport, Sanyuka TV, Next Radio, Nile Post and other digital, production and technology businesses. The company lists Capital FM, Beat FM and KIIS 100.9 FM among its current brands.
For UCC, the issue goes beyond a change in company ownership. The regulator is required to consider public interest before deciding whether to approve the transfer of broadcasting licences. The notice cites Section 43 of the Uganda Communications Act, Cap 103, together with Regulation 102 of the Uganda Communications (Licensing) Regulations, 2019, as the legal basis for the application. UCC also referred to Section 39(2)(d) of the Act, which requires consideration of public interest before a decision is made on the proposed transfer.
UCC has therefore invited members of the public to submit written comments on the application. The comments are expected within 14 days from the date of the notice, meaning the consultation period runs from September 14.
The regulator said submissions should be addressed to the Uganda Communications Commission at UCC House, Plot 42-44 Spring Road, Bugolobi, Kampala. Comments may also be submitted through the Commission’s legal licensing email address.
The public consultation means the proposed acquisition has not yet received final regulatory approval. The UCC process gives the regulator an opportunity to assess the transaction and consider views from members of the public before determining whether the broadcasting licences should be transferred. If approved, Next Media Services and Kin Kariisa would gain full ownership and direct control of Capital FM (2015) Limited, bringing the Capital FM radio network into the wider Next Media group.
The transaction would mark a major development in Uganda’s broadcasting sector, increasing the number of major radio brands operating under the Next Media umbrella and further consolidating the company’s presence across television, radio and digital media.
