The Registrar of Indigenous Corporations, Selwyn Button has extended the special administration of the Townsville Aboriginal and Torres Strait Islander Corporation for Media until 17 December 2021.
Commonly known as ‘4K1G’, the corporation was placed under special administration on 14 June. The appointment was required to address serious concerns about the corporation’s solvency and financial viability. The financial problems were confirmed through an examination of the books, that also revealed an array of breaches of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 and the corporation’s rule book.
‘The extension is required to further embed the turnaround strategy to ensure 4K1G is a financially viable operation for the long term,’ Mr Button said.
‘The broadcasting sector can be a tough industry for operators. Sustainability requires careful management of tight resources to create the greatest value for your local community audience. There is a critical relationship between revenue and station reputation.
‘As it currently stands 4K1G simply does not self-generate enough income, making it dependent on feeds from the National Indigenous Radio Service instead of community-based content. Until they start producing content that is locally relevant and valued they will find it hard to diversify income streams.’
The special administrators have secured funding from the Commonwealth for the next 2 financial years. This funding will provide stability while the station rebuilds operations to make it a strong community broadcaster.
Mr Neil Michel and Mr Mark O’Shea from the firm Enmark Pty Ltd will continue as the special administrators.
See the registrar’s previous media release on 14 June 2021, Airing the issues at Townsville’s 4K1G.
Lisa Hugg 0477 762 290