UPDATED: August 2, 2026 — Next Media now owns 100% of Capital FM
The agreement was formalised on June 23rd during a high-level meeting at Next Media Park. It is intended to enhance content sharing, cross-platform engagement, audience reach, and integrated advertising solutions in a rapidly evolving media environment. Officially, both parties describe the arrangement as a partnership that preserves the independent brands, operations, and editorial identities of each group.
However, industry speculation suggests the collaboration may represent a deeper integration or a phased acquisition by Kin Kariisa’s Next Media Group. Kariisa described the arrangement as “a firm partnership for now,” a statement that has left considerable room for interpretation. Central to the deal are Capital Radio's long-standing co-owners, Patrick Quarcoo and William Pike.
Quarcoo, a highly experienced media executive with deep roots across East Africa, actively participated in the June 23rd meeting. Pike, however, was notably absent. Some sources suggested his absence was strategic — to avoid drawing immediate public conclusions to a potential sale of his shares. Others attribute it to ongoing health concerns in Nairobi where Pike is, while others simply suggest Pike may have wanted to liquidate his shares to focus on more personal causes.
More indication pointing to a potential sale by Pike is the recommendation to move Capital FM's physical address from Plot 1A, Cooper Road, Kisementi (which is a property owned by William Pike) to the Next Media Park at Plot 13, Summit View Road, Naguru (which is owned by Kin Kariisa's Next Media Serices) suggesting that Pike may indeed have sold off his stake in the company.
Pre-deal filings with the Uganda Registration Services Bureau (URSB) showed that Quarcoo and Pike each held 37.65% of Capital Radio 2015 Limited, giving the duo majority control alongside minority shareholders like businessman Hannington Karuhanga and others.
While speculation of a full takeover persists, both organisations continue to publicly affirm operational independence. As of late July 2026, Capital FM maintains its distinct programming and branding. No formal share transfer documents confirming a complete ownership change have been publicly released.
Should the reported transaction include Pike’s stake, Next Media Group would secure substantial influence over Capital Radio Group and its vast media portfolio. This would lend greater weight to the description by Kin Kariisa of a “firm partnership,” reflecting not just cooperation but a meaningful strategic alignment that strengthens both entities in Uganda’s increasingly competitive and expanding media landscape.
Ultimately, whether this is framed as a collaboration or a consolidation, this development will mark a new chapter for one of Uganda’s most recognizable pioneering radio brands — positioning it for well in a new digital first media landscape for the future.
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Update note: The above original article captured the situation as of late July 2026, when the arrangement was still publicly described as a partnership amid widespread speculation. Subsequent developments have confirmed that Next Media Services under Kin Kariisa has taken 100% ownership of Capital FM / Capital Radio Group.
