TVC News, a 24-hour news channel owned by Continental Broadcasting Service Nigeria Ltd, is to start a 24-hour news broadcasting service from November 2012 that will provide coverage to countries across the African continent
The news channel has planned to set up offices in the Nigerian cities of Lagos and Abuja, the southern oil hub of Port Harcourt and other offices outside the country, according to CBS CEO Nigel Parsons.
“Part of the reason for this channel is too many foreign channels just cover death and disaster in Africa. There’s a lot to celebrate, business is booming in Africa,” Parsons explained.
Research conducted by the IMF has claimed sub-Saharan Africa’s economy is projected to expand 5.4 per cent this year, fuelled by increasing commodity prices and oil production, which have compensated for the economic slowdown in Europe.
Set to compete alongside international broadcasters for viewer ratings, TVC News has negotiated deals to air on a number of networks including British Sky Broadcasting Group Plc (BSY) in the UK, Naspers Ltd (NPN) DSTV in Nigeria and Multi TV in Ghana, Parsons revealed.
He also stated that the news channel would attempt to gain profits from both sponsorship and advertising, and through CBS’s existing TVC Entertainment channel and Argentine news and talk radio station, Radio Continental.
Parsons concluded that the channel, which currently has 350 employees working in editorial, technical areas, management and administration, is set to adopt “a similar model” as other international 24-hour news channels, such as the BBC, CNN and Al Jazeera.