The government-owned radio station KOOL FM is in financial trouble.
A report tabled in Parliament yesterday revealed that the Braemar Avenue-based entity racked up a deficit of thirteen point five million dollars in the 2010/2011 financial year.
Aerotel, which broadcast KOOL, made a pre tax profit of fourteen point eight million dollars but recorded a loss after tax of twelve point six million.
According to Chairman of Aerotel, Maurice Henry, the impending transfer of broadcasting facilities to the Public Broadcasting Corporation of Jamaica continues to impact staff morale negatively.
He added that employment contracts at the station were now limited to three months.
In his report Manager Tomlin Ellis stated that the radio station was prevented from employing more sale representatives, issuing normal staff contracts and engaging in promotional activities.
He added that the impending transfer to PBCJ has caused logistical problems as the yellow page listing showed the station located at South Odeon Avenue.
This he said resulted in packages being sent to that location and persons going there trying to find the radio station.
All feeds
