WBS TV is now a shadow of its former self as the Naguru-based TV station continues to sink.
The station could be nearing its end as it is reportedly in a Ugx 7 Billion debt to URA. We have also learnt that the local tax regulating body has now taken over the management of the station to recover their money.
A statement from URA reads:
“After considering all available options, we settled for the option of receivership, because we think that it could enable us to collect the outstanding debt without necessarily closing down WBS TV. then loosing jobs and other associated effects. We believe that through Receivership, we could end up collecting the debt, and later on hand it back to its owner Prof Wavah, who has been very cooperative through this process.
We therefore appointed two lawyers to be our Receivers; that is, KABIITO KARAMAGI and Joshua Ogwal.
In short WBS, will operate under different management but still owned by Professor.”
According to industry observers, no company has ever recovered after being placed under URA receivership.
Staff Writer