Obiano set to buy N3.5 Billion Compass Newspaper

In spite his heavy spending on the press, estimated to be about 75 Million Naira per month, which includes 30 Million Naira that he pays to Channels TV monthly, the money to appear on front page of Sun Newspapers twice daily, among others, Obiano is not contented yet.

The news of Mr. Ifeany Uba’s Newspaper (Authority) that will debut on the 1st of October, 2015, to be followed by his TV and Radio stations, is unsettling to Chief Willie Obiano.  Meanwhile, Ifeanyi Uba has a very low opinion about Obiano, who he sees as only good for drinking competition and not competition on good governance.

To counter Ifeanyi Uba, Chief Willie Obiano is seriously negotiating to buy the defunct Compass newspaper. The man behind the deal is Mr. Chuka Nnabuife, the former News Editor of the Compass that he hired and made the Managing Director of the State’s Newspaper, National Light.

 The management of Compass refuses the N2.5 Billion, Mr. Obiano has bided and are insisting on 3.5 Billion Naira,  citing large expanse of land, choice location, built up houses and printing press.

Obiano and Pete Edochie
Written by Tony Umeh