Nahil back in media biz

Business tycoon Nahil Wijayasuriya is back in the media business after selling off his previous venture a few years ago.

East West Properties said yesterday it purchased 51% of People’s Media Network Pvt. Ltd., at a cost of Rs.49.3 million.

People’s Media Network operates nine radio frequencies and two TV frequencies issued by the Telecommunications Regulatory Commission. The company is a private radio and TV broadcasting company which has a licence to operate a radio and TV network in Sri Lanka.

The Network currently operates 9 radio frequencies and two television frequencies.