Michael Lee-Chin’s AIC Barbados sells CVM-TV Loop Jamaica

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Loop News

1 hrs ago – Updated

“CVM TV is an essential part of the fabric of Jamaica and we have been privileged to steward it over these past several years,” said Michael Lee-Chin, the chairman of AIC Barbados.

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AIC Barbados Limited has announced the completion of the sale of CVM Television Limited (CVM-TV) to VertiCast Media Group.

CVM-TV is one of two 24-hour free-to-air broadcasters in Jamaica providing islandwide coverage.

Michael Lee-Chin, Chairman of AIC Barbados Limited, expressed: “Our mantra is ‘prosperitas cum curitate’, which means ‘doing well by doing good’.

Lee-Chin added: “CVM TV is an essential part of the fabric of Jamaica and we have been privileged to steward it over these past several years. We believe VertiCast is the perfect fit to carry on CVM’s expansion regionally.”

CVM-TV CEO Shamena Khan commented: “having transformed CVM-TV to a fully HD broadcaster that is a leader in the media space, we depart with enormous pride in the legacy of developing a transformative, committed and talented team of individuals and a profitable media entity.”

“I thank the staff of CVM for their efforts and contributions over the years. We are certain that VertiCast will continue to lead CVM’s expansion with its strong and experienced management team,” she added.

Meanwhile, Oliver McIntosh, VertiCast CEO, expressed, “CVM-TV creates significant operational and strategic value for VertiCast, allowing centralized distribution of multiple channels over-the-air, on cable television.”

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