Villa Groups Media subsidiary V media has announced it might be shutting down its media brands.
V media is run under a subsidiary called Island Broadcasting Company and the company has already implemented pay cuts lowering its salaries to 2222 per month until June.
The decision comes after its parent company main sources of income which is the tourism-related business took a major hit due to COVID-19 outbreak. The company have said if the trend continues the company might have to halt its media operation and shut down.
Currently, V Media holds Vnews, VTV and VFM in amongst there media brands.