ZSR Sports Radio 103.5FM is fighting to the Radio Station on the air after being told officially by the Utilities Regulation and Competition Authority (URCA) to give up the frequency. URCA has given the frequency to a new company called Paramount Systems upon the request from the licence holders Frank Rutherford and Mrs Blossie Smith, widow of the late Philip Smith.
In a statement yesterday, URCA Paramount Systems Limited is the licensee of record in respect of the frequency 103.5FM, with the right to exclusive and uninterrupted use of that frequency.
Now the operators of ZSR say they want to keep all rights to their broadcasting station from a seemingly hostile takeover from what they call, the station’s minor shareholder.
Since April 5th of this year, ZSR Sports Radio 103.5FM has officially undergone legal battles with Brickell Management Group Limited and Island Luck TV’s Chief Executive (CEO) Officer, Sebastian Bastian and URCA.
According to Maria Daxon, the attorney representing ZSR Sports Radio,
“there is a hostile takeover that is trying to happen in this Bahamas. There are some unscrupulous persons in this country that want to take over this business of 103.5FM.
“My clients Vann Ferguson, Broadcaster and Business woman, Cheryl Braynon, the principal holders of Navette Broadcasting and Entertainment Company Limited have been unfairly treated by members of the URCA board.”
For the last seven years, ZSR Sports Radio 103.5FM has delivered sports news in The Bahamas, but it is also alleged by Ms. Daxon, that URCA claims the company is not and has not been operating with a legal license.
According to Ms. Daxon, URCA’s CEO, Stephen Bereaux sent a letter to the Sports Broadcasting station to vacate the FM frequency 103.5 with immediate effect.
Ms. Daxon says that prior to the transactions of the broadcasting station’s transfer of ownership, Paramount Systems was recently formed October 21st 2016, only to facilitate such a ‘hostile takeover’.
Moreover, “URCA was aware that Vann Ferguson and also Cheryl Braynon are the principal holders of Navette, ” Ms. Daxon said.
Additionally, Ms. Daxon accused URCA of assisting the takeover of the sports radio station.
“They (URCA) went behind my clients back along with Paramount Systems and decided they were going to illegally and unlawfully try to take away the license to transfer it over to Paramount Systems.”
Ms. Daxon informed the media that under the advisement of her senior counsel, she will be filing an injunction today against URCA, and the minor shareholder.
Ms. Braynon said that she is disappointed and flabbergasted that she has to fight so hard to keep the station that she has personally invested thousands of dollars.
“It’s just so much to tell. I just can’t believe they tried to sell this company behind my back, when the license is in my name. I am Navette.”
Ms. Braynon also informed the Journal yesterday that her partner, Vann Ferguson ensures that any business and legal matters pertaining to ZSR Sports Radio, is handled expeditiously.
Furthermore, Ms. Daxon stated that URCA sent a letter to ZSR Sports Radio last Friday, October 27th stating that they will be responsible for $500 thousand dollars or be imprisoned if they fail to shut down.
“I don’t owe URCA, so why should I have to shut down.” Ms. Braynon said.
After receiving the letter from URCA, that same day, Ms. Daxon swiftly submitted an official appeal to URCA’s letter.
