Nation Television (NTV) and Nile Broadcasting Service (NBS) managers have denied the rumoured acquisition and merger of the stations.
In a joint press statement released Thursday, the two entities said the reports are false and malicious meant to confuse the public by alleging a takeover of NBS by NTV.
“Management of both stations clarify that no such or sale of NBS TV to NTV has occurred or being signed as purported,” the statement reads in part.
Online news blogs and social media were last week awash with reports that NBS had been acquired by the Nation Media Group subsidiary at Shs3.2billion.
The unattributed reports also claimed that the NMG had already approved the buyout deal.
NTV managing director, Ms Agnes Konde and NBS’ head of marketing Mr Joe Kigozi, noted, however, that as two leading industry players [they] will continue to seek cooperation on strategic issues of interest.
They also warned: “Any publication or broadcast of such malicious propaganda should stop immediately and offer a written apology or face legal consequences within 7 days of this notice.”
NBS is a locally- owned station established in 2007.
“We would like to assure our stakeholders and general public that it is business for both the two stations,” the statement reads in part.