Nairobi, Kenya – (African Boulevard News) – In a surprising turn of events, Kenyan Deputy President William Ruto has announced that he is putting his bid to control troubled media company Standard Group on hold. This decision comes after months of speculation surrounding Ruto’s interest in acquiring stakes in the company, which has been marred by a difficult relationship between him and the Kenyan president.
The Standard Group, one of Kenya’s largest media conglomerates, has been facing financial challenges and a declining readership in recent years. Ruto’s entourage had been actively pursuing the acquisition of stakes in the company, with hopes of turning its fortunes around. However, it seems that the strained relationship between the Deputy President and the President has put a halt to these plans.
Industry experts believe that Ruto’s decision to step back from the bid could have significant implications for both him and the media industry in Kenya. “The Standard Group is a key player in the media landscape, and its control would have given Ruto substantial influence over the country’s media narrative,” said John Njoroge, a media analyst at Nairobi University. “Without this acquisition, Ruto may have to find alternative means to shape public opinion in his favor.”
The decision to put the bid on hold also highlights the ongoing power struggle within Kenya’s political landscape. Ruto, a prominent figure in Kenyan politics, has been positioning himself for a presidential run in the upcoming elections. However, his ambitions have been met with resistance from within his own party, as well as from the current administration.
While Ruto did not provide specific reasons for his decision, insiders speculate that the strained relationship between him and the President played a significant role. The two leaders have been at odds over various issues, including the handling of corruption scandals and the direction of the ruling party.
As news of Ruto’s decision broke, shares of the Standard Group experienced a slight dip in the stock market, reflecting investors’ uncertainty about the future of the company. However, industry experts believe that this setback could be temporary. “The media industry is resilient, and the Standard Group has a long history of adapting to changing times,” said Jane Mwangi, a media consultant. “While Ruto’s bid may be off the table for now, the company still has the potential to recover and thrive under new leadership.”
As the dust settles on Ruto’s surprising announcement, all eyes will be on the Standard Group and its future. With the media landscape in Kenya undergoing significant transformations, the company will need to navigate these changes and find innovative ways to remain relevant in the digital age. Only time will tell what lies ahead for one of Kenya’s most prominent media institutions.
