Chairman and managing director of The Gleaner Company Ltd., Oliver Clarke (right), in discussion with (from left) Lester Spaulding, chairman and managing director of the RJR Communications Group; Gary Allen, operations manager of the RJR Group; and Collin Bourne, The Gleaner's administration manager/company secretary. - NORMAN GRINDLEY/DEPUTY CHIEF PHOTOGRAPHER
RADIO JAMAICA Ltd. yesterday entered the print media when it signed an agreement with The Gleaner Company's United Kingdom operations to acquire 20 per cent of the UK business.
J.A. Lester Spaulding, chairman and managing director of the RJR Communications Group, and Oliver Clarke, chairman and managing director of The Gleaner Company Ltd., signed the agreement.
Radio Jamaica has put up £223,000 ($26.1 million) to purchase the shares. It has also agreed to participate on a pro rata basis in loans to the company of £475,000 ($55.6 million), at the current balance, for the acquisition and financing of the reorganisation of The Voice Group which was acquired by The Gleaner in May 2004. The Gleaner Company (U.K.) Ltd. and its subsidiaries are publishers of The Weekly Gleaner (U.K.), The Voice, Britain's best known ethnic newspaper, and Young Voices.
RECOGNISED J'CAN BRANDSMr. Spaulding and Mr. Clarke both noted the benefits of The Gleaner and RJR, as two of the most known, trusted and recognised Jamaican brands, working together in the UK in building The Voice as the leading
newspaper in the Black British community.
"We are delighted that the RJR Group has joined with us in the ownership of our U.K. operations. RJR is a vibrant company and working together we will be better able to develop media opportunities in this important market," said Mr. Clarke.
Added Mr. Spaulding: "It is our intention to diligently search out opportunities for overseas expansion and this is an excellent and exciting first step. We will also be working with the Gleaner Company in various ways to better serve the Jamaican community in England."
As London and other major cities in the UK become increasingly cosmopolitan, the demand for an entertaining and informative newspapers such as The Voice provided excellent opportunities for both the Gleaner Company and Radio Jamaica Limited. Since its acquisition by The Gleaner Company in May 2004, management has focused on restructuring both The Gleaner Company (U.K.) Ltd. and The Voice newspaper.
