TV Africa is demanding that the organisations provide an account of all sponsorship and advertising revenue that they received as part of the broadcasting syndication pact. It is also seeking a declaration that the statement of accounts furnished by the LOC and OMP, through a letter dated February 15 2008, was false.
In a statement, TV Africa said: “In breach of their joint and several accounting obligation, the defendants wrongfully omitted from the purported statement of accounts of sponsorship received from companies such as MTN, Stanbic Bank Limited, IGI Ghana Limited and Budget Cash and Carry”.
The broadcaster claims that by carrying advertisements of the companies on their networks, in accordance with the syndication agreement, they are entitled to a share of the revenue related to the sponsorship packages. TV Africa is seeking order for the payment of the agreed share of revenue (16.5 per cent), with interest.
