VertiCast Group says it is finalising its new management team to fully take control of the recently acquired CVM Group by mid-October.
Although refusing to divulge the size of the deal or the portion of CVM Group it now owned, VertiCast Group CEO Oliver McIntosh said it had the majority stake.
Incorporated in 1990, CVM-TV began operations in 1993, initially owned by a consortium formed by Community Television Systems, Videomax and Mediamix. It was acquired in 2006 by Michael Lee-Chin through Portland Holdings. Broadcasting 24 hours of news, sports and entertainment, the station has struggled for market share, with mounting debt and continues to lag a distant second to market leader Television Jamaica (TVJ).
Word started floating around at the beginning of 2022 of the possibility of the acquisition. Whispers grew louder by May 2022, when McIntosh, a former investment…
