SHOCKER! WUSU TRIED TO BAIL OUT ONANUGA WITH N40MILLION OVER P.M. NEWS

SHOCKER!

WUSU TRIED TO BAIL OUT ONANUGA WITH N40MILLION OVER

P.M. NEWS

BY ABDULMUMINI ADEKU.

Ina story  that may look incredibly difficult to believe ,Mr Babatunji Ismaila Wusu,Managing Director of The Premier Newspapers in Lagos,Nigeria  actually tried to bail out Mr Bayo Onanuga with a massive N40million cash investment  days after evening newspaper,PM.News print edition’s production was halted by the company.

An impeccable source who is knowledgeable about the affair said that in the days after the ceasing of production of the brand from the print media market ,Mr Wusu who was sacked from the firm for gross misconduct started to cry more than the bereaved   as he told the brand’s owner ,Mr Onanuga that he could pull resources together to help inject N40million into the business. Within the shortest possible time.

The source explained that Mr Onanuga thanked him for the generous offer but politely turned it down.

The source wondered why Mr wusu will choose to want to invest in another persons

‘s business when his Premier Newspaper was almost dead.

The source also told this reporter that Mr Deji Beecro  marketing manager  was also said to have been booted out for reasons bothering on theft before he left with Wusu to start The Premier Newspaper.

ft who also previously worked with P.M.News as its

The source speaks:”Beecroft’s teaming up with Obasa who he works with now as a General Manager for his sports betting outfit and I hear that they are starting an evening newspaper soon”

It would be recalled that Paedia Express Multimedia had revealed in several editorial pieces about how The Premier Newspapers was currently locked up in arms with several interest groups over debts which they have refused to pay up.

In a related issue,,The management and Board of the Independent Communications Network Limited has decided to fold up the print editions of P.M. Newspapers so as to focus on its digital platform.

The 16 page” breaking news  “newspaper which was sold  midday  in Lagos,Nigeria previously had been published by a firm who had rested such other titles like Tempo Magazine, A.M.News and a Sport Newspaper in recent times.

In an exclusive Chat with Paedia Express Multimedia in his office,The Advertising Manager of the firm,Mr Yomi Osoba said that the brand currently has an online traffic of around 100,000 on the average on a day they have exclusive news information.

He disclosed albeit exclusively that the firm was currently running a campaign of N400,000 monthly  aside from another project they were working  on with Google which will fetch the firm N15million monthly as they were a major content provider.

He assured that the company had to restructure by stopping the production of the print edition of the brand couple of weeks ago ,a move they should have made two years ago but for a change in management decision at the time.