Two Caribbean Media Companies to Merge

An agreement has been struck between Trinidad and Tobago based Caribbean Communications Network (CCN) and The Nation Corporation (Nation) of Barbados. The two media companies will merge to form one of the largest media outlets in the Caribbean.

Sir Fred Gollop CCN Chairman

The merger is set to take effect on Jan. 1, 2006, Anthony Audain, Nation Corporation CEO, said Saturday in a statement.

The new company will be called One Caribbean Media Ltd. It will combine the Nation's newspapers and Starcom Network's radio stations with CCN's Trinidad Express newspaper and TV6.

"We believe that both companies have experienced management teams and highly skilled employees at all levels, who have the capacity to take the new organization to a high level of achievement," Audain said.

This merger which has been planned for over three years, has paved the way for the creation of a publicly owned and regionally focused media company, to be listed on the Trinidad and Tobago and Barbados stock exchanges.

The merger resulted from a recognition of the impact of globalization and trade liberalization, and the opportunities offered by the Caribbean Community single market economy, which is expected to open in January 2006.

The single market economy is designed to facilitate the movement of goods, services and certain categories of workers between 13 members of the regional bloc.