Vybez Radio Rumored to be Closing Down

On Wednesday, December 7, social media was flocked with reports that Vybez Radio, one of Standard Media Group's brands, is set to close as part of the financially strapped conglomerate's drastic measures.

Vybez Radio Rumored to be Closing Down

According to the reports, journalists within the media house will face a 50 percent pay cut in 2023. Online reports also revealed that the Standard Group CEO Orlando Lyomu spoke at a meeting on Wednesday, December 7 where various company-related issues were discussed.

According to sources, it was confirmed that the Vybez radio station was struggling with revenue and was losing money. While he did not explicitly state that the channel would be closed, he did state that the company would employ various strategies to save the brand.

The CEO also addressed the journalists going three months without pay, stating that the staff would be guaranteed a portion of their pay before Christmas.

"He did not say Vybez Radio would be closed, only mentioned that it has been struggling. And he said they'll try to make sure everyone has 'something' before Christmas, not the full three months' salary," reports revealed.

According to initial reports, the CEO used a salary delay tactic to allow impatient employees to leave. On Friday, September 30, Standard Media Group announced redundancy, implying mass layoffs.

"I have been under pressure to drop some products, but because I am not a yes-no yes-no man, I believe and still believe there are better ways we can handle the issues when pushed there, I am sorry to say it will be painful but for the sake of the business," the CEO added.

"The situation we are in is not only limited to Standard, you have all witnessed what is happening to our competitors, but we hope in the days to come, things will stabilize," Lyomu stated.

Vybez Radio debuted alongside Spice FM on August 20, 2019, in an effort to provide informative content to a diverse audience left behind by many stations. The station is well-known for playing reggae and roots music.

Here are some rumours that have been making rounds concerning the matter.