Jimoh Ibrahim’s Media Empire May Finally Crumble

Reliable Information reaching us from the camp of Jimoh Ibrahim, an Ondo State-born businessman, is not a palatable one.

Insiders divulged to our reporter that with the way things are presently going, Jimoh Ibrahim may not do anything to rescue his troubled media outfits, which include National Mirror, Daily Newswatch, Newswatch Magazine and Energy Press.

It was disclosed to Aproko247 that the oil and gas mogul is not ready to support the companies anymore like he used to do. Before now, the four organisations have been relying of subventions from the billionaire businessman, who is not ready to play with his money anymore.

A source, who is in the know of happenings in the Broad Street, Lagos office of the companies, said to us that Jimoh Ibrahim has given a mandate to the heads of the media outfits to independently fund the companies without his help.

Recall that the companies have been in crisis in recent times over unpaid salaries of workers. Some of the employees of the companies have not been paid for more than three months and also don’t know when they would get paid.

This has cause exodus of staff from National Mirror in particular, who either moved to other media houses or moved on with their lives in other professions.

Also, some key members of management have been making moves to leave the organisations.

Jimoh Ibrahim acquired three of the media companies from their previous owners and aimed to revive them. But latest developments have shown that the media

Another source told us that on Tuesday, Jimoh Ibrahim stormed the company and chased out members of the Editorial Board.

“He later called for an emergency meeting of the management of the four companies, where he told them he will no longer provide subventions to them,” our source said.

August 20, 2014