Media General Ghana Ltd (MGG), a wholly Ghanaian owned company, has taken-over the management of TV3 Network Limited.
A statement copied to the Ghana News Agency Monday night said: Media General Ghana has �satisfied completely all the necessary requirements to take-over the 90% equity interest in TV3 Network limited from its former Malaysian owners.
�The final stage of the purchase agreement between Media General Ghana and Media Prima Berhad (MPB) of Malaysia was concluded on 26th August 2011.� With this agreement, the statement said, MPB through its wholly owned subsidiary, GAMA Media International (BVI), had completely off-loaded all of its shares representing 90 per cent equity interest in TV3 to MGG.
�It is on record that, the sale of TV3 is a strategic decision by MPB to allow them to focus on their domestic operations.
�The new majority shareholders of TV3, MGG see the completion of this transaction as an opportunity to grow a world class media organization, powered by local expertise,� the statement concluded.