"We have seen new directors join the board. At the management level, through a very rigorous recruitment process, we have brought on a new chief executive and we believe she will continue on the reforms that have already started and in 2024, some of those reforms have begun to bear fruits.
"As from September, we focus on the company to be making profit month on month going forward. We will continue to strengthen the operations of the group."
He added that further reforms are being undertaken to strengthen the different brands under Standard Group's stable.
"We have also reorganised our channels, KTN Home and KTN News have been merged into one channel. We have also closed one of the radio stations that has not been performing and we will continue to strengthen the remaining radio stations which are doing very well in their market segments.
"This included a staff rationalisation process. These measures were necessary to optimise our resources and maintain financial health."
He added that these actions would ensure operational excellence and would reflect in enhanced efficiency of the company's systems.
"As the media industry evolves, we will aim to respond much more quickly and effectively. In this regard, we are developing a new strategy aimed at ensuring that the business stays relevant and competitive and is well positioned to take advantage of emerging opportunities of a digital-driven media environment," said Munene.
Chief finance officer Wesley Kimosop noted that despite the challenging environment, the company managed to make major strides and is set to become profitable in the coming year.
"There are so many initiatives that we have undertaken in 2024 such as innovation, cost management, digital and diversification of our revenue streams," he said.